World dairy prices climbed an average of 3.6% today on New Zealand’s GlobalDairy Trade auction, though volume at 28,158 metric tons was the lowest since June.
This the first time since early October in which global dairy prices gained strength, though higher prices weren’t reported across the board.
Butter was up 5.7% to $1.37/lb. and skim milk powder climbed 3.2% to 87¢/lb. Cheddar cheese dipped 1.5%, falling to $1.28/lb.
Chicago Mercantile prices are still significantly above world prices for butter ($2.90/lb.) and cheese ($1.54/lb.) But U.S. skim milk prices continue to be competitive globally at 74¢/lb.
Click here to see all results from today’s GlobalDairy Trade auction.