Global Dairy Trade butter continues to climb; cheese stalls

This column was written for the marketing week ending Feb. 24.

Direction reversed in the Feb. 21 Global Dairy Trade where the weighted average fell 1.5 percent after jumping 3.2 percent on Feb. 7.

Anhydrous milkfat led the declines, down 2.6 percent after jumping 4.8 percent on Feb. 7. However, butter was up 3.8 percent following a 6.6 percent advance on Feb. 7. Skim milk powder was down 2.4 percent after holding steady last time, and whole milk powder was down 2 percent following a 3.8 percent rise. Cheddar was up 1.5 percent after a 2.3 percent gain.

Mielke Market Weekly

By Lee Mielke

With less volume available for purchase, many region’s purchases were lower than they were in the last GDT, says StoneX’s Dustin Winston. “However, North Asian purchases, which includes China, were higher than both the last event and last year as the region continues to stay above 50 percent market share after their return to that market at the start of February.”