June 17, 2020: Dairy Week In Review

The dairy price index on the latest Global Dairy Trade auction was up 1.9 percent to $2,979 per metric ton. Skim milk powder, whole milk powder and Cheddar cheese prices were all up, increasing 3.1, 2.2 and 1.4 percent, respectively. The butter price fell 1.0 percent. Total milk production in the European Union was flat in April, totaling nearly 31 billion pounds, with Austria, Greece and Sweden still needing to report. In contrast, milk production in Australia was up 6.4 percent in April to 1.4 billion pounds. The increase in milk production is attributed to better than average rainfalls after last year’s drought. Milk production in the Oceania state was still 5.4 percent below levels in April 2018. Read More