Milk prices: index rises at latest GDT auction

Prices at this week's Global Dairy Trade auction rose for a fourth consecutive time.

3 May 2017

Prices at this week’s Global Dairy Trade auction rose 3.6%, the fourth consecutive rise in prices this year.

Whole milk powder (WMP) prices jumped 5.2% to $3,233/t, while skim milk powder (SMP) prices fell marginally by 0.9% to $1,982/t.

The butter milk powder (BMP) index surged 21.8% with an average price of $1,859/t.

There were a total of 166 bidders and 22,663t of product sold at this week’s auction.

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Kieran Mailey

A 1.9% increase at the second and final GDt event for November brings the price index to its highest value in 28 months.

The Ornua value payment payable to member co-ops in the month is €4.4m, which equated to 3.6% of gross purchases in the month.

Aidan Brennan

The price of butter has broken the previous record set just two months ago, writes Aidan Brennan.

However, the index rise marks the second successive increase after there was a 4.8% increase on 5 November.