The Global Dairy Trade (GDT) index has seen a very slight recovery in the latest trading auction today (Tuesday, July 16), following on from the sharp decline two weeks ago.
Today’s increase of 0.4% comes on the back of a 6.9% decrease on July 2.
After today’s event – event 360 – the index figure stands at 1,081, up from 1,077 two weeks. The latest index figure reflects a price of €3,518 per metric tonne (mt).
The dollar-to-euro conversion is based on an exchange rate of around $1 to €0.92, which is the exchange rate recognised by the European Central Bank as of yesterday (Monday, July 15).
22,954mt of product was sold at today’s event, with 174 bidders participating across 19 bidding rounds lasting two hours and 39 minutes, and 118 winning bidders emerging.
The index figure represents a return to positive growth, with the last two events seeing consecutive decreases preceded by four consecutive increases.
In terms of the individual product sub-indices, four products saw decreases, which were offset by increases for three others.
Cheddar was the strongest performer, increasing its sub-index by 6.2% for a price of €3,866/mt.
Anhydrous milk fat (AMF) also performed well enough, increasing by 4% for a price of €6,201/mt.
Butter was the only other product to see an increase, although a more marginal one, increasing by 0.8% for a price of €6,056/mt.
On the flip side, whole milk powder (WMP) fell back by 1.6% to a price of €2,881/mt, while skim milk powder (SMP) decreased by 1.1%, reflecting a price this time out of €2,353/mt.
Decreases for mozzarella and lactose were more marginal. The former decreased by 0.8% for a price of €3,873/mt while the latter decreased by 0.6% for a price of €726.
No percentage change or price was reported for butter milk powder (BMP).
Kerry Dairy Ireland
In other dairy price news, Kerry Dairy Ireland, a division of Kerry Group, has become the latest processor to announce its milk price for June supplies.
The processor announced today that its price for milk supplied in June is 42.5c/L, including VAT, at 3.3% protein and 3.6% butterfat.
Based on Kerry’s average milk solids for June, the milk price return, inclusive of VAT and bonuses, is 45.62c/L, the processor said.
“Butter prices in Europe remain elevated as butterfat demand continues to outstrip supply,” according to a Kerry Dairy Ireland spokesperson.
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