North Cork announces milk price increase for January

North Cork Co-op has become the latest processor to announce its milk price for January supplies.

In a statement, the cooperative based in the “Rebel County” revealed that it has set its January milk price at 31.75c/L including VAT.

This is an increase of 2.25c/L on its December milk price of 29.5c/L including VAT.

The announcement comes following a number of other processor announcements of milk prices in recent days.

GDT Index Dips

The most recent Global Dairy Trade (GDT) auction concluded last week, on Tuesday, February 18, with the GDT Price Index down 2.9%, according to the trading platform.

Lasting two hours and 18 minutes, Tuesday’s event saw 175 bidders participate across 18 rounds, with 138 emerging as winning bidders.

A total of 28,181MT of product was sold on the day.

The most dramatic move on the day was for the anhydrous milk fat (AMF) index, which dropped 5.5% in index; butter also fell 3.9% in index, while skimmed milk powder (SMP) and whole milk powder (WMP) both slipped 2.6% in the auction.

Finally, rennet casein (RenCas) also reduced slightly, recording a 0.9% decrease.

However, cheddar was the solitary winner at today’s tender, rising 5.3% in index.

Butter milk powder (BMP) was not offered at the event, while no index was available for either lactose (LAC) or sweet whey powder (SWP).