CME: Powder Prices Continue Steady Decline
US - US NDM prices have dropped steadily over the last seven months, falling 25-30¢ from the July 2011 peak, writes Alan Levitt, in Monday 6 Dairy report.
7 February 2012
1 minute read
Western powder is trading for mostly $1.3350-
$1.3750, according to Dairy Market News’ weekly survey. Buyers are often
waiting for prices to stabilize before ordering too far out. Inventories are
building.
Meanwhile, Oceania SMP prices have held mostly steady since October (see
chart). DMN pegs current prices at $1.49-$1.59. “Traders and handlers indicate
that powder stocks are sufficient to fulfill commitments with minimal volumes
remaining as uncommitted,” DMN says.
In November, milk production was up 4.5% in New Zealand (vs. the prior year)
and up 3.5% in Australia.
Oceania cheese and butter were slightly lower in DMN’s latest report. Cheddar
cheese is $1.71-$1.95, down a nickel from two weeks ago, and butter (82%) is
$1.68-$1.86, down 2¢. European whey prices are trending higher: 58¢-73¢, up 2¢ from the mid-January report.
Further Reading
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