Global Dairy Trade continues to show positive trends
This week the Global Dairy Trade nudged upwards by 3.2pc, continuing an upward trajectory of the past five months.
This week's auction results saw butter price the main mover, with prices up 11.2pc, while skim milk powder prices were up 1pc and whole milk powder was up 1.3pc.
The jump in butter prices comes after a number of months of steady prices. Cheddar prices were up 0.6pc, and come after two months of prices increases - although butter prices have fallen from a high in January through to April 17.
Skim Milk Powder prices were up 1pc, after falling dramatically between February and April 17.
Whole milk powder prices were up 1.3pc, with an average price US$3,312/MT, having been on a downward spiral since December 2016.
EU wholesale markets weakened in April for most products, with the exception of butter and whey powder.
Meanwhile, the Dutch LTO organisation reports that some major EU processors, including FrieslandCampina and some French companies, have frozen milk prices in May while others, including Arla and Dairy Crest in the UK, have either already cut prices or proposed lower prices over the coming months.