Price Fluctuations and Global Trends

From the week ending March 9th to April 6th, most wholesale dairy product prices reported in the NDPSR experienced declines. Specifically, prices for Cheddar cheese blocks, barrels, nonfat dry milk (NDM), and dry whey decreased, while butter prices saw a modest increase. At the Chicago Mercantile Exchange (CME) for the week ending April 12th, spot prices for various dairy products maintained a mixed trend, with slight fluctuations observed across Cheddar cheese, butter, NDM, and dry whey.

According to USDA’s Dairy Market News (DMN), export prices for dairy commodities in Oceania and Europe registered declines from February to March, with decreases spanning from Cheddar cheese to skim milk powder. Notably, butter prices in Western Europe were the only outlier, demonstrating a month-over-month increase.

In the global arena, the Global Dairy Trade (GDT) Price Index for the trading event of April 16th recorded a marginal uptick of 0.1 percent from the previous event on April 2nd. While anhydrous milk fat and whole milk powder prices exhibited gains, prices for butter, Cheddar cheese, and lactose experienced declines. Skim milk powder prices remained stable.