At the latest Dutch Dairy Board (DDB) auction, butter price moved up another €50, to reach a new record high of €8,100/t.
It is the fifth week in succession that butter has beaten the previous record price at the weekly DDB. It has now increased in value on 11 consecutive weeks from mid-July, rising €1,450 over the period.
Other commodities are also performing strongly, with whole milk powder (WMP) up by €30 to €4,380/t, making it seven price increases in the last ten weeks.
Skim milk powder (SMP) rose €30 to €2,600/t, making it’s the sixth price increase in a row.
GDT
At Tuesday’s GDT event, the price index increased by 0.8%, effectively cancelling out the impact of the previous auction when prices fell 0.4%.
Butter dropped 1.7%, but cheddar, WMP and SMP rose by 2.9%, 1.5% and 2.2% respectively.