World prices for butter, cheese and powder all made nice gains on the GlobalDairy Trade auction today, with the weighted average price up 16.5%.
A total of 36,050 metric tons of dairy products sold, on par with the last three bi-weekly trading sessions.
Whole milk powder showed the largest gain, up 20.6% to $1.13/lb. Skim milk powder was up 17%, to 90¢/lb. Butter prices climbed 13.3%, to $1.40/lb, and cheddar was up 10.7%, to $1.45/lb.
Most of these prices lag U.S. domestic spot prices. For example, butter is currently selling for $2.58/lb and cheddar (in barrels) is selling for $1.57/lb. U.S. non-fat dry milk, however, is slightly below world prices, at 88¢/lb.
You can get all the GlobalDairy Trade data here.