News dairy business
Global Dairy Trade confirms rising market
The better sentiment on the dairy market is confirmed by the Global Dairy Trade (GDT), which posted the biggest increase since mid-February. Mozzarella and butter in particular are increasing in value.
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The trendsetting dairy auction is seeing quite large price increases. Only Cheddar takes a step back. On the other hand, mozzarella, as another type of cheese, rose almost 10% to $4.215 per tonne.
Highest since 2022
At 5,1%, butter also achieved a strong plus, rising to the highest level in more than two years. In 2022 – the year of extremely high dairy prices – butter briefly peaked above the $7.000 per tonne mark and that level is now within reach. The improving market is not only limited to Europe but is also visible on the global market. The August contract for European product even traded for $7.260 at the auction. New Zealand products are still somewhat cheaper and that 'depresses' the average price.
The milk powder market is also unexpectedly participating in the recovery. With a 3,5% increase, lean product rises to $2.629 per tonne. Whole milk powder has been quietly on the rise on the GDT for some time now, rising by just under 3% to $3.408 per tonne.