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The Global Dairy Trade auction was down 1% this week, with some product prices up and some down.
The key product, whole milk powder, was back 2% to $2,884/t. The previous auction was down 1.7%. IFA dairy chair Tom Phelan welcomed July’s milk price increase from some co-ops, but said that farmers in other co-ops were left behind.
He said: “The price cuts in April and May came too soon and were too severe. As the markets didn’t suffer as much as expected, co-ops should have reserves to increase the prices paid out to farmers.”
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