March 18, 2020
Jim Dickrell
Skim milk powder (SMP) and whole milk powder (WMP) prices slumped in this week’s Global Dairy Trade auction in New Zealand.
SMP prices dropped 8.1% to $1.15/lb and WMP prices dipped 4.2% to $1.27/lb. U.S. SMP prices, trading at about $1/lb, are still competitive. But U.S. WMP prices, ranging from a $1.70 to $1.85/lb, continue to trade far above world market prices.
The aggregate value of this week’s dairy trades on the GDT was off 3.9%. Trading volume of all commodities was low to moderate, with just 24,209 metric tons trading hands.
Cheddar cheese actually saw some good support, with prices jumping 2.6% to $2/lb. That makes U.S. block cheddar, at $1.87, somewhat competitive. GDT butter prices were up 0.3% to $1.88/lb., making U.S. butter marginally competitive.
milkbusiness.com
Comentários