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Higher butter prices drove an increase in prices at this week’s Global Dairy Trade (GDT) auction.
Overall prices at the auction were up 2.3%, with butter prices soaring by 9.9% to an average of €4,980/t.
Chedder prices were up 6.9%, rising to €3,891/t, while whole milk powder prices hit €2,926/t, an increase of 2.9%.
Skim milk powder prices decreased at this latest auction, falling 1.3% to an average price of €2,391/t.
Milk prices
The rise in prices at the GDT comes as Irish processors set November milk prices. Most processors increased their prices by 1.9c/l, excluding VAT.
Farm organisations are seeking further increases for December and into the new year.
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