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As Irish co-op board directors meet over the next two weeks the price picture will be more positive than negative.
Butter prices reported by Dutch organisation ZuivelNL this week show butter increasing in price to €2,980/t, up from €2,880 reported last week by the EU milk market observatory. Skim milk powder is trading at €1,980/t, the same price as this time last year.
Italian spot milk prices lifted for the third week in a row to 34c/l this week
Whole milk powder is at €2,660/t, down 10% on same period in 2019. The bright light for Irish processors is cheddar, which is trading the same price as this time last year at €3,020/t.
Italian spot milk prices lifted for the third week in a row to 34c/l this week.
The lift in the GDT auction last week sparked more life in the skim milk powder, with some asking over €2,000/t for product. The peak of EU supply has passed and some countries are getting very dry, which will affect milk supplies and help underpin prices.
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