Arrabawn has cut its milk price for February supplies, the co-operative has confirmed.
Following a meeting of the board, the co-operative has reduced its milk price by 0.75c/L, meaning that suppliers will now receive a figure of 31.41c/L including VAT.
Positive GDT trend continues
The latest tender – event 232 – concluded earlier today (Tuesday, March 19) with the GDT price index up 1.9%.
Lasting a minute short of the two-hour mark, today’s auction saw 174 bidders compete across 14 rounds with 112 landing winning bids.
A total of 21,713MT of product was sold at today’s event.
- AMF index down 3.1%, average price US$5,662/MT;
- Butter index up 9.3%, average price US$5,089/MT;
- BMP not offered;
- Ched index up 3.9%, average price US$4,036/MT;
- LAC index down 1.0%, average price US$1,000/MT;
- RenCas index up 9.7%, average price US$6,190/MT;
- SMP index down 2.4%, average price US$2,405/MT;
- SWP index not available, average price not available;
- WMP index up 4.0%, average price US$3,317/MT.
Rennet Casein (RenCas) and butter were the big winners at the event, with index increases of 9.7% and 9.3% respectively, recording rising returns.
Meanwhile, whole milk powder (WMP) and cheddar (Ched) also performed strongly, with index boosts of 4% and 3.9% respectively.
On the flip side, anhydrous milk fat (AMF) saw an index drop of 3.1%, while skimmed milk powder (SMP) fell by 2.4%.