Butter prices at this week’s Dutch dairy auction recorded further price pressure, falling €180/tonne. This brings the current price to €4,970/tonne.

Butter prices were at a similar level back in May, and despite falling from nearly €7,000/t in September, are still currently €500/tonne higher than prices at the start of the year.

Skim milk powder was unchanged this week on €1,470/tonne, having recorded lower prices over the past four weeks. Whole milk powder also faced downward pressure with prices falling €20/tonne to €2,620/tonne.

Spot milk price on the auction is hovering just above the 37c/litre mark which converts to a sterling price of 32p/litre before allowing for any processing cost.