This week the GDT auction was slightly positive (+0.3% average) as the auction result mirrored the steady market state.

For the last eight auctions the average result was slightly down, but not by much.

This week all dairy commodities were slightly positive except whole milk powder, which dropped 1.5% to $3,552/t in New Zealand.

Milk supply is just starting on a lot of farms in New Zealand now as cows calve down.

Irish milk processors are setting milk prices this week and most held price except for Kerry, which lifted milk price 0.94 c/l as it was a bit off the pace anyway.

So far Glanbia, Lakeland and Dairygold Co-op all held milk price. Lakeland has been leading the milk price base price comparison for a number of months at 34.1c/l or €4.78c/kg milk solids.

On commodities it’s fair to say there has been a little pep in the step of cheese markets more so than anything else.

The Dutch cheese market has revived somewhat after the summer holidays.

COVID-19 and whether food service opens up or indeed closes again as case numbers rise is providing a backdrop of uncertainty and this is keeping buyers on their toes.

There was a sudden increase in demand and then we saw Gouda cheese rise sharply from €2,950 to €3,150/t.

Also in the Netherlands raw milk prices on the spot market remain firm as processors expect supply to continue to lag into the autumn. Mozzarella prices have also increased, to around €2,950/t, and weak supplies of red Cheddar are supporting higher prices.