Hopes are high that base milk prices could break the 50c/l mark over the coming months as dairy markets surge on the back of tightened global supply. The Global Dairy Trade auction on Tuesday saw the index increase by 5.5%, with whole milk powder increasing by 7.2%.
Hopes are high that base milk prices could break the 50c/l mark over the coming months as dairy markets surge on the back of tightened global supply.
The Global Dairy Trade auction on Tuesday saw the index increase by 5.5%, with whole milk powder increasing by 7.2%.
Butter prices have been soaring in Europe since mid-July, increasing by €140/t this week to hit €7,355/t, the second highest price ever recorded for butter.
Milk supplies in Europe are expected to be higher in 2024 compared to 2023, while supplies in the United States, New Zealand and South America are expected to be well down.
Meanwhile, China has launched an investigation into subsidies paid to Europe’s dairy farmers, prompting fears of a trade war between the EU and China.
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