Price index returns to positive figures at latest GDT auction
The price index has returned to positive figures at the latest Global Dairy Trade (GDT) auction, which took place today, July 18.
This follows on from two consecutive decreases of 0.4% on July 4 and 0.8% on June 20 respectively.
There was a total of 525 registered bidders at the event which lasted for almost two and a half hours. A total of 115 winning bidders emerged after 17 bidding rounds.
The price index for butter continued its upward trajectory at the latest GDT auction, registering an increase of 3.4%. This was the largest price difference recorded at the event.
No butter milk powder (BMP) was offered at the auction. Cheddar’s price index increased by 1.6%.
Meanwhile, the price index for skimmed milk powder (SMP) fell by 3.2%; an increase of 0.3% was reported for the whole milk powder (WMP) index.
- AMF index down 0.2%, average price US$6,577/MT;
- Butter index up 3.4%, average price US$6,004/MT;
- BMP not offered;
- Ched index up 1.6%, average price US$4,112/MT;
- LAC index down 1.8%, average price US$825/MT;
- RenCas index up 2.4%, average price US$6,358/MT;
- SMP index down 3.2%, average price US$2,024/MT;
- WMP index up 0.3%, average price US$3,114/MT.
Ornua’s PPI enjoys second consecutive monthly increase
Earlier this month, Ornua announced an increase in its Purchase Price Index (PPI) for the month of June, with a value of 110% given.
The PPI is up from 106.8% for the month of May, a jump of 3.2 percentage points; this is the second consecutive price increase from April’s value of 105%.
Prior to this, 2017’s PPI had remained relatively static, beginning the year at 105.4% before decreasing to 105% in April.
June’s index is the highest value since September 2014, as can be seen in Ornua’s graph of the trend.
The majority of co-ops have decided to up their milk prices for June supplies; most processors are offering 33c/L including VAT – and more – for June milk.