Global dairy trade

Butter prices took the biggest hit on the European spot market this week as the market reacts to a change in sentiment writes Aidan Brennan.

This is the second successive increase and the fifth in just two months since there was a sizeable drop of 6.9% on 2 July this year. Since then, the market has rebounded by 8%.

The premium prices being paid for dairy in Europe is highlighted this week, as butter is over €2,100/t cheaper at the GDT auction, writes Aidan Brennan.

Prices for whole milk powder (WMP) and skim milk powder (SMP) were up 1.5% to €3,099/t and 2.2% to €2,525/t at the Global Dairy Trade auction.

There was a return to stability in the butter market this week, while prices for most other commodity types increased, writes Aidan Brennan.

It was another upbeat week on the European dairy market, with prices for all key products rising, writes Aidan Brennan.

This is the first fall in the GDT index since there was a sizeable drop of 6.9% on 2 July this year. Since then, the market has rebounded by 6.4% over three auctions.

Butter has broken the 2022 record in Europe and all other dairy commodities are flying, writes Aidan Brennan.