The Latest: January - 2022
Dairy Markets Forge Multi-Year Highs Across the Globe
At the Global Dairy Trade (GDT) auction on Tuesday, the GDT Index jumped 4.6% to its highest price since March 2014, led by a 5.6% increase in the price of whole milk powder (WMP). GDT butter and cheese both scored all-time highs, while SMP climbed to prices not seen in nearly eight years.
The beginning of October is a key time in the dairy industry as buyers start placing holiday orders and markets begin to move the way we always expect them to ahead of a more festive time of year. But a mild summer kept milk supplies longer than normal deeper into the season. Even rallying butter prices lost their momentum. Will a somewhat strange end to the summer lead to any surprises in markets toward the tail end of this year?View report
We’re in the thick of the summer doldrums. It’s expected during these mid-summer weeks that dairy markets do not move much. And they haven’t. But the doldrums don’t mean there’s nothing interesting going on. Dairy industry observers are intrigued by notably sluggish retail and consumer cheese sales even though summertime usually means those sales should be peaking.View report
By far the most noteworthy dairy market at the moment is butter. While butter typically peaks in late summer and early autumn, a surge in domestic spot prices that began in mid-April continues, sending prices from $2.0625 to over $2.7000 per pound by mid-June. And there’s no sign —at least for now— that indicates prices may fall back in the coming weeks. So how high will butter go?View report