The Latest: March - 2026
Milk Powder Market Soared
Lifted by strong international prices and low domestic output, the milk powder market soared to a 12-year high. CME spot nonfat dry milk (NDM) leapt 5.25ȼ this week to $1.9225 per pound, its loftiest perch since April 2014, when China was stocking up on milk powder ahead of an anticipated baby boom. Milk powder prices took a small step back at Tuesday’s GDT Pulse auction, but other indications of international prices continued to climb.
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Dairy markets were not immune, and after a healthy rally last week markets suffered a sizeable setback.
View reportThe steep December selloff was a necessary correction and was not the start of a sustained downtrend. With the exception of butter, dairy demand is outpacing supply and supporting dairy product prices.
View reportCME spot Cheddar barrels dropped to a 10-month low but came roaring back. The powder markets firmed as well.
View reportMilk yields and components remain high while an unsettled market tries to digest the holiday excess.
View reportRevenues improved throughout the year. Although not sufficient to undo years of financial distress, it is the highest revenue since 2014 and worthy of celebration.
View reportThe market did its job, encouraging production, discouraging sales, and returning to equilibrium at more sustainable values.
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