The latest Global Dairy Trade (GDT) event concluded on Tuesday with the GDT price index jumping 4.3%.
The update, a positive for Irish dairy farmers, comes as Ireland’s major processors continue to confirm their latest milk prices, with Lakeland Dairies, Dairygold and Kerry Group announcing that they will maintain their price for September supplies.
The GDT price index increase is the third in a row and renews confidence that global dairy markets have bottomed out.
Auction
Tuesday’s auction saw the index increase by 4.3%, driven by increased demand for whole milk powder (WMP), which is up 4.2%, skim milk powder (SMP), which is up 4.3%, and anhydrous milk fat (AMF), which is up 7.1%.
The latest GDT auction was held on Tuesday.
The September auction saw cheddar as the only commodity to drop, with a decrease of 1.7%, but this too has been reversed somewhat with an increase of 0.2% in Tuesday’s auction. The butter price index was also up 2.9%.
Another interesting aspect is the quantity of product being traded, with over 35,974t traded at this auction, which although similar to the last auction (37,000t) is higher than normal. This indicates that there are fewer private transactions taking place, with more product funnelled through the auction.
Read more
Dairy Trends: GDT increases by 4.6%
Dairygold September milk price remains steady
Kerry maintains milk price for September
Ireland sees highest milk price drop in Europe
The latest Global Dairy Trade (GDT) event concluded on Tuesday with the GDT price index jumping 4.3%.
The update, a positive for Irish dairy farmers, comes as Ireland’s major processors continue to confirm their latest milk prices, with Lakeland Dairies, Dairygold and Kerry Group announcing that they will maintain their price for September supplies.
The GDT price index increase is the third in a row and renews confidence that global dairy markets have bottomed out.
Auction
Tuesday’s auction saw the index increase by 4.3%, driven by increased demand for whole milk powder (WMP), which is up 4.2%, skim milk powder (SMP), which is up 4.3%, and anhydrous milk fat (AMF), which is up 7.1%.
The latest GDT auction was held on Tuesday.
The September auction saw cheddar as the only commodity to drop, with a decrease of 1.7%, but this too has been reversed somewhat with an increase of 0.2% in Tuesday’s auction. The butter price index was also up 2.9%.
Another interesting aspect is the quantity of product being traded, with over 35,974t traded at this auction, which although similar to the last auction (37,000t) is higher than normal. This indicates that there are fewer private transactions taking place, with more product funnelled through the auction.
Read more
Dairy Trends: GDT increases by 4.6%
Dairygold September milk price remains steady
Kerry maintains milk price for September
Ireland sees highest milk price drop in Europe
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