Today Fonterra held the first internet dairy trading auction which included skim milk powder. The price averaged $1.33 per pound.
Today, also, the price of NFDM "Extra Grade" came down 12 cents on an offer from Clofine Dairy products. No powder traded hands, naturally.
Last Friday the NASS "Dairy Product Price" survey listed NFDM at $1.07 per pound.
By all appearances, those who actually want milk powder are willing to pay more than those cooperatives in this country who claim to represent the interest of dairy farmers.