Dairy prices at Tuesday’s Global Dairy Trade auction increased by 1.8%, the sixth consecutive rise in prices.
Prices for butter milk powder (BMP) drove the increase in this week’s auction, with prices up 10.7% to an average of €2,644/t.
The average price for whole milk powder (WMP) was €2,875/t, an increase of 2.3%.
Butter prices were also up, by 6.2% to €4,181/t and cheddar prices were up 2.3% to €3,474/t.
Prices for skim milk powder were down 1.5% to €2,659/t.
As reported in last week's Irish Farmers Journal European dairy markets have been on a firm upward curve since the beginning of 2021.
Export demand and a seasonal drop in EU milk production are driving positive dairy market sentiment at the moment.