Dairy prices fell at this week’s Global Dairy Trade (GDT), with average prices down 3.8%.

It is the first drop in prices since November 2020 at the auction and comes after a 15% surge in prices at the 2 March auction.

Prices for whole milk powder (WMP) fell by 6.3% at Tuesday’s auction, while butter prices fell by 2.8%.

Skim milk powder (SMP) was up marginally by 0.7% and anhydrous milk fat was up 3.7%.

Prices for lactose were up 8.6% at this week’s auction.

Milk price

Following on from the previous auction, farm organisations called for processors to lift their February milk prices.

Last week, Kerry Group lifted its milk price by 1c/l to 31.31c/l excluding VAT for manufacturing milk at 3.3% protein and 3.6% butterfat.

At EU constituents of 3.4% protein and 4.2% butterfat, it equates to a price of 34.31c/l, excluding VAT.

Lakeland Dairies increased its February milk price by 1/cl to 31.6c/l, excluding VAT, while Glanbia will pay a price of 31c/l excluding VAT, a 2c/l increase on the January base price.