Global dairy prices had a welcome start to 2019, with the first event seeing prices rise for the third time in a row.
This is particularly welcome after six months of decline.
Yesterday’s event saw prices rise by 2.8%, following a 1.7% increase in the previous event and a 2.2% increase on the event before.
The average selling price was $2,986 per tonne, compared to $2,844 at the previous event.
Every product experienced gains this event, with Butter Milk Powder, up 9.3% selling at $3,252 per tonne, Skim Milk Powder, up 7.9% selling at $2,201 per tonne, and Anhydrous Milk Fat rising 3.9% to $5,137 per tonne, experiencing the biggest gains.
Butter rose by 3.9% to $4,076 per tonne, Cheddar was up 3.2% selling at $3,371, and Whole Milk Powder also rose by 1.2% selling at $2,705 per tonne.
The total amount sold was 28,651 per tonne, which was a hefty drop of 20.8% compared to the last event, which closed at a total of 36,181 tonnes.
© 2019 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.