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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Pass the egg nog, please. USDA announced the highest Class III price in five years. That’s a lot of Christmas cheer heading for dairy producers’ mailboxes. The butter market, however, is suffering a holiday hangover.
View reportThe gains were driven by impressive improvements in milk production per cow. Higher prices and mild weather have boosted milk output.
View reportSpot Cheddar is still at a rather lofty perch and spot barrels have the highest value in more than five years. The markets are doing their job.
View reportCME spot Cheddar barrels reached a five-year high, then the bids dried up.
View reportThe Cheddar market was already red hot, but barrels pushed the mercury even higher this week.
View reportFresh cheese is tight, and the markets seem to have someone – or several someones – over a barrel. High prices are working to trim demand at the margins, boost production, and attract imports.
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