Dairy product prices edge higher, butter continues its climb

Dairy product prices rose at the Global Dairy Trade auction, gaining for the first time in three auctions, with butter outpacing the other commodities amid strong consumer appetite for natural, full-fat products.

The GDT price index rose 0.2 per cent from the previous auction two weeks ago to US$3,387. Some 26,688 tonnes of product was sold, down from 28,574 tonnes at the previous auction.

Whole milk powder advanced 0.3 per cent to US$3,114 a tonne, and butter rose 3.4 per cent to US$6,004 a tonne.

Rennet casein gained 2.4 per cent to US$6,358 tonne, while cheddar rose 1.6 per cent to US$4,112 a tonne.

Meanwhile, skim milk powder dropped 3.2 per cent to US$2,024 a tonne, while lactose fell 1.8 per cent to US$825 a tonne, and anhydrous milk fat slipped 0.2 per cent to US$6,577 a tonne.

Butter milk powder was not offered at this event.

More at NZ Herald.

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