Dairy product prices rose by 0.6% at Tuesday’s Global Dairy Trade (GDT) auction.

It is the sixth consecutive rise in prices this year, albeit not as high an increase as previous auctions. Skimmed milk powder (SMP) rose by 7.9%, while whole milk powder (WMP) fell by 2.9%.

Meanwhile, Ornua’s purchase price index (PPI) rose by 1.8% in May, resuming the growth trend stalled since the start of this year.

The PPI value now stands at 106.8, a level not seen since the autumn of 2014. This means the commodities exported by Ornua are returning a farmgate milk price of 30.3c/l (excluding VAT).

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