This is a subscriber-only article
Butter prices increased by 3.8% $5,954/t at the GDT with the overall price index up by 0.3% to $3,323.
Cheddar prices were up by 2.5% to $4,118/t, while whole milk powder prices dropped 1.6% to $3,100/t and skim powder prices fell by 1.2% to $1,944/t.
GDT prices
Butter demand
ICMSA’s dairy chair Gerald Quain has again drawn attention to what he called “the hugely concerning gap” that has opened up between Irish dairy prices and those of our mainland EU counterparts.
Quain said that his association shares the analysis of other experts within the sector in predicting a continued strengthening of dairy markets through the remainder of this year with a further milk price expected for August supplies.
"The widespread sector optimism is based on market data showing butter shows spot prices continuing to reach record highs in terms of European and Dutch quotes in the last month. Dutch quotations are returning butter at €6,800/t compared with €3,500/t 12 months previous, a rise of over 94%," he said.
New Zealand set for new water taxes
SHARING OPTIONS: