CME: Powder Prices Continue Steady Decline

US - US NDM prices have dropped steadily over the last seven months, falling 25-30¢ from the July 2011 peak, writes Alan Levitt, in Monday 6 Dairy report.
calendar icon 7 February 2012
clock icon 1 minute read

Western powder is trading for mostly $1.3350- $1.3750, according to Dairy Market News’ weekly survey. Buyers are often waiting for prices to stabilize before ordering too far out. Inventories are building.

Meanwhile, Oceania SMP prices have held mostly steady since October (see chart). DMN pegs current prices at $1.49-$1.59. “Traders and handlers indicate that powder stocks are sufficient to fulfill commitments with minimal volumes remaining as uncommitted,” DMN says.

In November, milk production was up 4.5% in New Zealand (vs. the prior year) and up 3.5% in Australia.

Oceania cheese and butter were slightly lower in DMN’s latest report. Cheddar cheese is $1.71-$1.95, down a nickel from two weeks ago, and butter (82%) is $1.68-$1.86, down 2¢. European whey prices are trending higher: 58¢-73¢, up 2¢ from the mid-January report.

Further Reading

- You can view the full report by clicking here.

Daily Dairy Report - Copyright © 2008 CME. All rights reserved.

TheMeatSite News Desk
© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.