European dairy markets have strengthened again, despite a small dip at the first GDT event for April. At the weekly Dutch Dairy Board auction, butter jumped by €250 to €7,350/t.
Butter is now more than €3,300/t above the corresponding price last April after the fifth successive price increase.
Skim milk powder (SMP) rose for the ninth successive week, with a €40 increase bringing the price to €4,240/t, up €1,700/t year on year.
Whole milk powder (WMP) increased by €30 to €5,190/t, up €2,000/t year on year.
Tuesday’s GDT event resulted in a 1% drop in prices which averaged US $4,981/t. It is the second negative result in succession after a 0.9% price drop in late March.
However, the index price at 1,564 is still the fifth highest on record.
Butter dipped by 0.6%, but cheddar rose by 2.7%. Both commodities are still up $2,000/t compared to last autumn.