Butter prices improved again this week, as did whole milk (WMP) and skim milk powder (SMP).
As a rule of thumb, WMP prices are up about 20% compared with the same period last year, SMP is up about 30% and butter prices are up over 40% on the same period last year.
The biggest drivers of price change in butter and powders are the big importers and China is once again driving this market, with higher volumes of WMP and SMP imported relative to 2020 in the first quarter of 2021.
Skim into China was up 36% for the first couple of months of 2021.
Whole milk powders were up about 10% for the first couple of months.
Irish milk prices
This week, most Irish co-ops have decided to hold milk price rather than increase it.
While Irish co-ops only set April milk price this week, across the water in the UK, forward prices for May, June and July are all well up.
Dale Farm is up 1p/l to 30.6p for March. Arla increased by 1.3p/l to 31.5p for May.
On the retail front, Waitrose is up 1p/l to 33.25p for May.
For June, and on liquid, Muller is up 1p/l for June to 28.25p; Crediton is up 0.5p/l to 30p/l; Yew Tree is up 2p/l to 29.1p; and Grahams is up 1p to 28p.
On cheese, South Caernarfon Creameries is up 0.7p/l to 28.3p/l, First Milk is up another 0.5p/l to just under 29p/l; Lactalis is up 1.25p to 29p/l; Belton is up 1.3p to 28.5p; and Glanbia is up 1ppl to 28.1p or so.