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According to USDA data cited in the article, CME spot Grade A nonfat dry milk averaged $2.1756/lb in October, up 90.9% from a year earlier. Grade AA butter fell 18.9% over the same period to $1.3178/lb, so skim milk powder is now priced about 65% above butter.
Rising demand for high-protein dairy products, including drinks and products for GLP-1 users, is pulling skim milk into processing, while butterfat output keeps growing (US butter output rose 10.9% in September). This widens the gap between the two prices and supports nonfat dry milk values.
hankyung.com고은이 기자 구독하기Nov 15, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
