The Global Dairy Trade (GDT) index has shown no percentage change after the latest trading event today (Tuesday, June 20).
The index figures remains at 1,002, the same figure recorded last time out on June 6, 2023.
Of the twelve most recent GDT trading events (including today’s) since January 3, the index has seen eight decreases, three increases, and one unchanged index.
At today’s event, 20,372MT of product was sold at an average price of $3,479/MT.
103 winning bidders emerged out of 153 participating bidders, with the event lasting 2 hours and 19 minutes.
Looking at the individual product sub-indices, butter put in an impressive showing, with a 5.5% index increase, reflecting a price of $5,379/MT.
Anhydrous milk fat (AMF) also saw an increase in sub-index, although it was far more marginal, increasing by just 0.5% for an average price of $ 4,758/MT.
On the flip side, the cheddar sub-index slid by 3.3% for an average price of $4,533/MT, while the skim milk powder (SMP) sub-index decreased by 2.3%, reflecting an average price of $2,667/MT.
Whole milk powder (WMP) recorded no percentage change in its sub-index, with a price of $3,172/MT.
No results were available for butter milk powder (BMP) or lactose.
The latest GDT results come as Irish dairy processors announce their milk prices for May supplies.
On Friday (June 16), Tírlan became the latest processor to announce its milk price for May supplies. The co-op confirmed that it will pay a total of 40.08c/L (including VAT) for May creamery milk suppliers.
This is based on 3.6% butterfat and 3.3% protein.
The May milk price of 40.08c/L remains unchanged from April and according to Tirlán consists of the following:
- Base milk price supported by 3c/L to remain at 39.58c/L (including VAT);
- A Sustainability Action Payment of 0.5c/L (including VAT) to all qualifying suppliers.
The base price and Sustainability Action Payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.