Global Dairy Prices Drop Again (VIDEO)

February 2, 2016 09:45 AM
 
Balancing_world_markets

There was more pessimism on the GlobalDairy Trade (GDT) auction from New Zealand today, with the average price for dairy commodities dipping to $2,276 per metric ton, a decline of 7.4%. The volume of product sold, at 24,474 tons, was up nearly 12% from two weeks ago.

Butter took the biggest drop, at 8.3%, and is now trading at $1.32/lb. This is well below U.S. prices, where butter on the Chicago Mercantile Exchange (CME) is trading above $2/lb. Cheddar cheese dropped 4.2% on the GDT auction to $1.27/lb. Barrel cheese on the CME is trading at $1.45. And skim milk powder prices dropped 2.2% to 81¢/lb. CME skim milk powder prices are now at 71¢/lb., a ridiculously low price, but competitive on world markets.

You can view more on today’s GDT auction here.

Global Dairy Slips on Soft Butter Prices

AgDay, 2/4/16

 

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Comments

 
Spell Check

Timothy
standish, MI
2/2/2016 11:28 AM
 

  Need to apply more tariffs on cheaper imports to keep US prices up, is that how we gain that 8.3 billion dollars under TPP free trade agreement?

 
 

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