World Dairy Prices Tick Up 1.9% in GlobalDairy Trade Auction
Aggregate world dairy prices ticked up 1.9% today on the biweekly GlobalDairy Trade auction from New Zealand. The aggregate price came in at $2,458 per metric ton, but on a low volume of trade.
This is the second auction in a row that prices increased, at least in the aggregate. Prices had been declining since early October, when they peaked at $2,834/ton. Nearly 24,888 metric tons were traded. This is the lowest volume of activity since mid June.
Butter jumped 9%, to $1.42/lb. Cheddar cheese was up 1.1%, to $1.30/lb., and skim milk powder was up 0.2% to 86¢/lb. That compares to U.S. prices of $2.07/lb. for butter, $1.44 for cheese and 79¢/lb. for butter.
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