Product prices were mixed at the latest Global Dairy Trade Auction held in New Zealand, however the overall price of the dairy products on offer improved by 0.6%.
This follows on from the first auction of the year, which was held two weeks ago, where prices declined by 3.9%.
Whole milk powder (WMP) prices were down by 0.1% at today’s auction, with lactose and rennet casein prices posted a mixed performance.
Skimmed Milk Powder (SMP) prices were also down by 1.6%, but butter prices actually improved by 1.6% on the previous auction results.
Key results:
- AMF index up 3.7%, average price US$5,528/MT
- Butter index up 1.6%, average price US$4,382/MT
- BMP index down 10.1%, average price US$2,783/MT
- Ched index up 1.3%, average price US$3,940/MT
- LAC index down 1.7%, average price US$813/MT
- RenCas index up 4.9%, average price US$6,470/MT
- SMP index down 1.6%, average price US$2,612/MT
- WMP index down 0.1%, average price US$3,283/MT
Source: Global Dairy Trade
Meanwhile, a number of Irish co-ops have announced the price being paid for December milk supplies in recent days.
Kerry will be holding its price for December milk supplies at 29c/L including VAT, while farmers supplying Dairygold will receive a base milk price of 30.5c/L, following an increase of 1.5c/L, for December supplies.
Yesterday, Arrabawn Co-op increased milk price by 1c/L for December supplies, bringing the base milk price to 30.75c/L for December.
Meanwhile, Glanbia announced last week that it will pay its suppliers 30c/L including VAT for December manufacturing milk supplies.
Glanbia Ingredients Ireland (GII) has increased its base price for December by 1c/L to 30c/L including VAT for manufacturing milk at 3.6% fat and 3.3% protein.
In light of this decision, there will be no Glanbia Co-operative Society support payment to members this month.
Lakeland Dairies also increased the milk price paid for December supplies to 30.28c/L including VAT last week.
The decision to increase the December price by 1c/L follows on from last month’s decision to increase the November milk price by 2c/L to over 29c/L including VAT.