Dairy prices rose by 0.3% on Tuesday at the latest Global Dairy Trade auction.
Butter prices were the main driver of the increase, with prices up 4% to €4,067/t. Skim milk powder (SMP) prices were up 1.1.% to €2,602/t, while whole milk powder (WMP) prices were back 1.5% to €3,028/t.
Cheddar prices were up 2.8% to €3,567/t.
It is the first lift in prices at the Global Dairy Trade auction, albeit very marginal, since early April. Previous to this, the last eight auctions have seen average dairy prices fall.
Almost all processors have now set a price for July milk supplies.
Kerry and Dairygold both set their prices on Monday, with Kerry lifting the price by 1c/l and Dairygold holding its price.