ICMSA: First GDT result of 2026 'just what the doctor ordered’
The Irish Creamery Milk Suppliers' Association (ICMSA) has said a "big jump" in the Global Dairy Trade (GDT) price index "makes for a great start to 2026".
The first GDT auction of the new year took place today (Tuesday, January 6), resulting in the price index increasing by 6.3% to 1,072 - up from 1,008 after the final trading event of last year.
Today's result marks a step change following nine consecutive falls in the GDT index since last August.
The GDT auction, which is held twice in every month, is a trading platform for core dairy products.
ICMSA
Chairperson of ICMSA’s Dairy Committee, Noel Murphy said that after four difficult months in dairy markets and significant reductions in milk prices, today's result is "just what the doctor ordered".
He said that the successive reductions in the GDT had caused "gloom and doom" around the markets and amongst farmer-suppliers.
"It’s very early days but the GDT increase today is hugely positive with rises across all products.
"It’s crucial now, absolutely essential, that all milk processors at least hold milk price at its current levels for December milk supplied.
"The reality is that milk prices are currently below the cost of production and if processors want farmers to produce milk in 2026, then they are going to have to recognise this reality and deliver a milk price that allows farmers to make some margin in 2026," Murphy said.
The ICMSA Dairy chairperson added "this positive note was hugely encouraging and we must hope that the recovery in demand for dairy products – and milk price – continue into spring".
