Mixed Trends in Wholesale Dairy Prices, with Notable Increases in Cheese and Butter
Source: The DairyNews
The latest USDA National Dairy Products Sales Report (NDPSR) from the period ending May 4, 2024, reveals mixed movements in wholesale dairy product prices.
Notably, the prices for 40-pound blocks of Cheddar cheese and 500-pound barrels of cheese adjusted to 38-percent moisture saw significant increases, rising 17.17 cents and 22.36 cents per pound, respectively. Additionally, the price for butter rose by 10.83 cents per pound, reflecting strong market demand.
Conversely, prices for dry whey and nonfat dry milk (NDM) experienced declines, dropping 3.64 cents and 5.57 cents per pound, respectively. These fluctuations highlight the variable dynamics within the dairy market.
Further insights from the Chicago Mercantile Exchange (CME) for the week ending May 10 indicate that average spot prices for Cheddar cheese 40-pound blocks and 500-pound barrels were $1.8975 and $1.9180 per pound, respectively. Meanwhile, CME prices for NDM, butter, and dry whey were $1.1315, $3.0215, and $0.3835 per pound, respectively.
Internationally, most average dairy product export prices in Oceania and Europe reported declines from March to April 2024. However, prices for butter and cheese in Oceania increased, supported by strong domestic demand in Western Europe and Oceania, as well as improving export sales for Oceania's cheese.
Conversely, prices for dry whey and nonfat dry milk (NDM) experienced declines, dropping 3.64 cents and 5.57 cents per pound, respectively. These fluctuations highlight the variable dynamics within the dairy market.
Further insights from the Chicago Mercantile Exchange (CME) for the week ending May 10 indicate that average spot prices for Cheddar cheese 40-pound blocks and 500-pound barrels were $1.8975 and $1.9180 per pound, respectively. Meanwhile, CME prices for NDM, butter, and dry whey were $1.1315, $3.0215, and $0.3835 per pound, respectively.
Internationally, most average dairy product export prices in Oceania and Europe reported declines from March to April 2024. However, prices for butter and cheese in Oceania increased, supported by strong domestic demand in Western Europe and Oceania, as well as improving export sales for Oceania's cheese.
