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As New Zealand enters the summer months. The Global Dairy Trade auctions in November offer some decent insights into the state of the Oceania dairy herd. It appears the fat component of milk will be robust enough to maintain current demand as butter pricing through the first quarter only ticked up slightly. December salted butter traded at a $139675/lb. A 1% gain, January salted butter traded at $1.8550/lb. A .5% drop, and February traded at $1.8650/lb. Another 1% gain. The bigger surprise came in the powder markets as skim powder markets as skim milk powder gained 6.7% to find at $1.3275/lb., whole milk powder was up 3.6% to $1.4775/lb., and even buttermilk powder was making a rare trade appearance at $1.2650/lb. however, skim milk powder is at a fiver year high, historically once foreign prices get this high buyers start to push back. BurtKnowsDairy

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