IFA National Dairy Committee Chairman Sean O’Leary said today’s upturn (+1.7%) in the GDT weighted average price for products to be traded between April and September reflected the absence of surprise increase in volumes made available, by Fonterra especially.
Speaking today in Brussels at the March COPA Milk Meeting, IFA National Dairy Committee Chairman Sean O’Leary said that, despite today’s 6.3% fall in the GDT auction index, farm organisations from all over Europe reported significant milk price increases and continued restrained output.
Commenting on the first ever GDT Annual Report, published today for 2016, IFA National Dairy Chairman Sean O’Leary noted that GDT traded only 636,000t of product during 2016 – down 36% on the peak levels of trade of 2014, and consisting mostly of WMP and SMP (73%, or 464,000t).
21 02 2017
IFA National Dairy Chairman Sean O’Leary has said the 3.2% fall in this week’s GDT auction, which traded product for the months of March to August 2017, reflects buyers’ speculation egged by the slightly less negative revised New Zealand 2016/17 milk output forecast (-5% instead of -7%).
The first GDT auction of 2017, which saw a weighted average decrease in the index of 3.9%, does not reduce the scope for further milk price increases for Irish dairy farmers on their December milk, IFA Dairy Chairman Sean O’Leary has said. He called on co-op boards to increase prices as markets justify.