After a run of falling prices, dairy markets received a boost on Tuesday as the GDT recorded a positive price trend.
The first GDT auction of June finished on a positive note, with the index price rising 1.5%. It halts a run of five successive auctions where prices fell.
Following Tuesday’s event, the index now stands at $1,359, putting it on par with levels recorded back in January 2022.
Butter rose by 5.6%, although cheddar fell by 3.6%. Skim milk powder has also seen major gains, with prices up 3%, while whole milk powder took a slight dip of 0.3%.
Meanwhile, Glanbia Cheese will temporarily lower the qualifying criteria for its 0.4p/l mozzarella bonus during the summer period.
The bonus is normally paid to suppliers for producing milk at, or above, 4% butterfat and 3.2% protein. Cell counts must normally be below 25 TBC and 200 SCC.
However, during the five-month period from May to September, butterfat will temporarily be reduced to 3.84% with protein dropping to 3.15%. SCC increases to a threshold of 250, but TBC will remain unchanged.
This is the third successive year Glanbia Cheese has altered the mozzarella bonus over the summer period.