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Global Dairy Trade Prices Unchanged

21 July 2016

GLOBAL - This week's Global Dairy Trade auction on Tuesday showed no change in the GDT index of prices traded for dairy products.

The average price remained at $2,336 (USD/MT, FAS). This follows two previous auctions of no or very small changes in the price index.

Whilst skimmed milk powder fell in price by 1.1 per cent, whole milk powder rose by 1.9 per cent. Butter prices fell by 5 per cent, and cheddar prices by 1.1 per cent.

The Irish Farmers Association said the positive moves in WMP prices coupled with positive recent movements in European prices mean co-operatives should commit to milk prices for the rest of 2016.

“EU dairy prices for the last two months have increased very substantially, with butter not far off 20 per cent up, WMP 13 per cent, whey powder nearly 16 per cent up. Even SMP, which has been under greatest pressure in the last 18 months, has seen prices recover by 5 per cent, admittedly still just above intervention equivalent,” IFA Dairy Committee Chairman Sean O’Leary said.

“We are clear that our request for a commitment on milk prices for 2016 is justified and necessary, both to, first sustain farmers’ badly shaken confidence, and secondly to, in time, pass back improved dairy prices to help ease farmers’ income crisis.”

TheCattleSite News Desk



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