The latest reports on the European butter price puts the drop in price for this week at €55/t, which is very modest relative to the substantial falls in price seen in recent weeks.
Cheddar cheese prices this week are at €3,870/t, which is a €90/t drop on where it was the week prior.
Meanwhile, whole milk powder is down €40/t while skim milk powder is down €20/t. All of the prices quoted here are based of the DCA Market Intelligence platform.
These price cuts are significantly less than price cuts in recent weeks and will be welcomed by farmers and processors alike, but where markets go from here is the big unknown as the recent price cuts were not forecast.
To put the market drop in context, butter was at €6,815/t in mid-August and is now at €5,585/t today, which is a 21% fall.
The fall in the price of commodities has been blamed for the fall in the price of milk, with all of the co-ops dropping milk price for August.
Dairygold and Tirlán dropped the price the most, with a 2.85c/l ex VAT and a 2.28c/l ex VAT price drop respectively for August milk.
On Thursday, over 500 Dairygold suppliers attended an information meeting organised by Dairygold to discuss the recent price drops and changes to the market.
The latest reports on the European butter price puts the drop in price for this week at €55/t, which is very modest relative to the substantial falls in price seen in recent weeks.
Cheddar cheese prices this week are at €3,870/t, which is a €90/t drop on where it was the week prior.
Meanwhile, whole milk powder is down €40/t while skim milk powder is down €20/t. All of the prices quoted here are based of the DCA Market Intelligence platform.
These price cuts are significantly less than price cuts in recent weeks and will be welcomed by farmers and processors alike, but where markets go from here is the big unknown as the recent price cuts were not forecast.
To put the market drop in context, butter was at €6,815/t in mid-August and is now at €5,585/t today, which is a 21% fall.
The fall in the price of commodities has been blamed for the fall in the price of milk, with all of the co-ops dropping milk price for August.
Dairygold and Tirlán dropped the price the most, with a 2.85c/l ex VAT and a 2.28c/l ex VAT price drop respectively for August milk.
On Thursday, over 500 Dairygold suppliers attended an information meeting organised by Dairygold to discuss the recent price drops and changes to the market.
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