LacPatrick has announced details of its winter bonus payments for 2017, with 3p/l to be paid in October, 2p/l in November and 1p/l in December.

This will be the third year that LacPatrick has paid a winter bonus to suppliers. Last year, the co-op brought its 1p/l bonus forward from December to September and paid 3p/l in October and 2p/l for November.

GDT

Meanwhile, this week’s GDT milk auction fell by 1.6% to an average index price of US$3,343/t, which equates to an approximate farmgate price of 29p/l to 30p/l allowing for some level of processing costs.

Butter fell by 4.9% to $5,747/t while skim milk powder (SMP) fell by 3% to $1,966/t.

Whole milk powder (WMP) rose by 1.3% to $3,155/t. Powders dominated the auction with 50% of product sold being WMP and 25% SMP.

While the GDT auction had a negative outcome, this week’s Dutch dairy auction was positive.

Butter prices rose by €110/t to €6,300/t. WMP prices rose by €50/t to €3,050/t with no change to SMP price of €1,740/t.