Why are cheese prices surging? What does it mean for your dairy farm? Discover the impact of global dairy trade trends on your business.
Summary: Consider this: cheese exports in June fell from record highs but remain strong year-over-year. If you’re wondering about the specifics, U.S. cheese exports hit 86 million pounds, down 19% from May but still up 9% over last year. Butter exports also rose significantly, reaching their highest monthly volume since March 2023. However, NDM and SMP sales took a dip, dropping by 10% compared to last year. Global markets are shifting too, with mixed results in powder prices and a notable increase in China’s buying activity. Keep an eye on these trends to adapt your strategies and stay competitive.
- U.S. cheese exports decreased in June but are still 9% higher year-over-year.
- Butter exports surged to the highest monthly volume since March 2023.
- Nonfat dry milk (NDM) and skim milk powder (SMP) sales dropped by 10% from last year.
- China’s buying participation in the Global Dairy Trade auction increased by 124%.
- Powder prices showed mixed trends: SMP prices decreased, while whole milk powder (WMP) prices increased.
- Cheese and butter prices experienced fluctuations, with butter prices dropping by 1.8% to $2.94 per pound.
- Dairy farmers should monitor these market trends to adjust strategies and maintain competitiveness.
Have you heard about the most recent changes in the dairy market? As a dairy farmer, you should know that cheese exports have decreased significantly. In June, cheese exports totaled 86 million pounds. That is a staggering 19% reduction from May! But before you become too alarmed, remember that it is still a 9% gain over the previous year.
Why should this concern you? This news might influence your pricing and market tactics. Cheese prices have risen by 1.4%, reaching $1.94 per pound. And here’s another twist: China increased its purchasing participation in the current Global Dairy Trade auction by 124%, which might indicate increased demand.
Volume increased by 10% at this week’s Global Dairy Trade auction. Powder prices were uneven, with SMP falling 1.1% to $1.15 per pound and WMP rising 3.7% to $1.48.
Butter isn’t doing too poorly, either. Butter exports nearly reached 7 million pounds, a 32% increase yearly and the most significant monthly amount since March 2023. However, if you’re in the Nonfat Dry Milk (NDM) and Skim Milk Powder (SMP) game, sales have fallen 10% yearly to 134 million pounds.
- Cheese prices rose 1.4% to $1.94 per pound.
- Butterfat prices fell 1.8% to $2.94 per pound.
- NDM prices are steady at $1.2325 per pound.
So, where does it leave you? Are these market changes impacting your bottom line? Let’s examine what these figures represent and how you can remain ahead of the curve. Continue reading to find out more.
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