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.
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.