The latest Global Dairy Trade (GDT) auction, event 205, has resulted in a boost of 5.9% in index. Similar to last month’s auction, all products on offer increased in price on the day.

Marking the third straight increase and maintaining early 2018 growth in price, today’s considerable 5.9% rise follows positive results of 2.2% and 4.9% boosts in January’s GDT events.

Lasting two hours and 18 minutes, today’s event took place over 15 rounds with 126 winning bidders out of a total of 188 bidders participating. A total quantity of 22,197 metric tonnes was sold on the day.

Similar to last month, lactose (LAC) was not available on the day. However, all other products did well, with buttermilk powder (BMP) in particular doing well with a rise of 8.4%. Buttermilk powder was not offered at the previous event, and took a sharp fall of 7.3% in the first auction of the year.

Butter, meanwhile, continued its upward momentum, rising 7.9%, following on from an 8.8% increase on the last day out.

Co-op merger activity in Munster

A potential merger between the north Kerry based Newtownsandes Co-op and North Cork Creameries has moved a step closer following a members’ meeting last night.

AgriLand understands that negotiations on the potential merger will now proceed to the next stage after a vote on the matter at the meeting, sources have confirmed.

It is understood the Irish Co-Operative Organisation Society (ICOS) is expected to act as a “go-between” on the deal, and will chair talks between the two co-ops.

This development comes in the immediate aftermath of the announcement that the aforementioned North Cork Creameries and the Feale Bridge & Headley Bridge Co-operative from Abbeyfeale, Co. Limerick, are to merge following an agreement approved by the boards and members of both co-operative societies.

It follows “necessary rule changes and approvals” agreed by the members of the co-operatives, on the unanimous recommendation of their respective boards, according to the co-ops.