The global dairy trade (GDT) experienced its fifth consecutive drop this week, down 0.3% as average prices reached $2,885/t (€2490/t).

While the price for butter and anhydrous milk fat was up, cheddar and whole milk powder prices dropped slightly.

Some 183 bidders took part in the auction and a total of 41,945t was sold.

Announcing the Glanbia milk price at the start of this week, Glanbia chair Martin Keane said:

“However, this surge in milk supply has coincided with a very strong start to the New Zealand milk production season, with a cumulative 15% drop in the GDT price index since June resulting in reduced forecast milk prices.”

“It should also be noted that there has been a rapid decline in European butter markets, with Dutch Dairy Board reported prices down from €6,100 per tonne in June to €4,700 per tonne this week.”

Prices for the GDT were as follows:

  • AMF index up 1.0%, average price $5,106/t (€4,408).
  • Butter index up 2.4%, average price $4,114/t (€3,551).
  • BMP not offered.
  • Ched index down 1.8%, average price $3,404/t (€2,938).
  • LAC index up 1.5%, average price $926/t (€799).
  • RenCas index down 1.7%, average price $5,426/t (€4,684).
  • SMP index unchanged, average price $1,977/t (€1,706).
  • SWP not offered.
  • WMP index down 0.9%, average price $2,729/t (€2,355).

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