The latest result from the New Zealand auction of dairy commodities shows another significant increase, which will make Irish milk suppliers even happier.
The Minister for Agriculture, Food and the Marine Charlie McConalogue TD met up with the New Zealand Minister for Agriculture recently and to say New Zealand milk price is flying high is an understatement now.
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As milk price and milk flow peaks in New Zealand, this week's GDT auction result has lifted by 4.3%.
In this most recent auction, whole milk powder was up 2.7% and skim milk powder was up 6.6%. This result will be a massive boost to the New Zealand dairy industry at this time of the year as seasonal supply peaks. The net effect and knock-on to international trade and on Irish prices will be significant also.
Prior to this week, the 19 October auction was up 2.2%.
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With today's result, the last six auctions in a row have moved in a positive direction , dating back to the middle of August. This week's figures further reinforce the rising upward trend of dairy commodities since then.
Next week the Ornua board meets and after that the Irish co-op boards will meet to set October milk prices. While all suppliers lifted their September prices, there will be further calls for another lift for October now.
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Title: GDT auction on the up again
The latest result from the New Zealand auction of dairy commodities shows another significant increase, which will make Irish milk suppliers even happier.
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As milk price and milk flow peaks in New Zealand, this week's GDT auction result has lifted by 4.3%.
In this most recent auction, whole milk powder was up 2.7% and skim milk powder was up 6.6%. This result will be a massive boost to the New Zealand dairy industry at this time of the year as seasonal supply peaks. The net effect and knock-on to international trade and on Irish prices will be significant also.
Prior to this week, the 19 October auction was up 2.2%.
With today's result, the last six auctions in a row have moved in a positive direction , dating back to the middle of August. This week's figures further reinforce the rising upward trend of dairy commodities since then.
Next week the Ornua board meets and after that the Irish co-op boards will meet to set October milk prices. While all suppliers lifted their September prices, there will be further calls for another lift for October now.
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