The Global Dairy Trade (GDT) index has seen a slight increase after the latest trading event today (Tuesday, October 1).
The index increased by 1.2%, reflecting an average price of €3,474 per metric tonne (mt) of product sold.
The index figure as of today stands at 1,164, the highest figure in almost exactly two years, since the index hit 1,166 on October 4, 2022.
The latest increase is the second consecutive boost in the index.
Of the last 12 GDT events including today – dating back to April 16 – nine have resulted in increases to the index.
Today’s trading event saw a total of 38,848mt of product sold, with 140 winning bidders emerging from 191 participating, in an event that lasted for 19 bidding rounds and two hours and 58 minutes.
Looking at the indices for each product, the strongest performer was lactose, which increased by 6.7% for an average price of €859/mt.
Butter milk powder (BMP) also performed strongly, increasing by 5% for an average price of €2,860/mt.
Cheddar and whole milk powder (WMP) also put in good showings, increasing by 3.8% and 3% respectively (for average prices of €4,155/mt and €3,210/mt respectively).
On the flip side, mozzarella tumbled by 7.7%, for an average price of €4,474/mt.
A less drastic decrease was seen for butter, which decreased by 1.4%, for an average price of €5,779/mt.
Decreases were also seem for skim milk powder (SMP) and anhydrous milk fat (AMF), which fell back by 0.6% and 0.1% respectively (for average prices of €2,521/mt and €6,506/mt respectively).
Dairy awards
In other dairy news, Ornua and the National Dairy Council (NDC) have announced the Kennedy farm from Cahir, Co. Tipperary, supplying Dairygold Co-operative, as the overall winners of the 2024 NDC and Kerrygold Quality Milk Awards.
The annual awards programme, now in its 15th year, saw 11 farming families from six counties and 11 dairy cooperatives recognised for “excellence in milk production and sustainable dairying” at a ceremony hosted at the Lyrath Estate Hotel, Co. Kilkenny today (Tuesday, October 1).
Following their nomination by Dairygold, the Kennedys outperformed their competitors through a judging process that evaluated a range important aspects of modern dairy farming.
These aspects included environmental sustainability; animal health and welfare; farm infrastructure; hygiene standards; soil and grassland management; and technical performance amongst other important factors including advocacy and community engagement.