GDT dairy prices reach highest level since 2014

At home, the country’s biggest milk buyer, Glanbia, has increased the creamery milk price from 33.5 cent per litre (including VAT) for December to 35.1c for January

Milk supply growth is strong across all the main milk production regions, but rising feed costs may curb supply growth in the EU, says Glanbia Ireland Chairman John Murphy. File Picture.

The seventh-in-a-row positive Global Dairy Trade auction result on Tuesday took prices to their highest level since April 2014.

This important indicator of global dairy market trends offers reassurance on the milk price front to dairy farmers, and the Tuesday auction result also pointed to a slowing supply trend, with slightly reduced product volumes reflecting the passing of the milk production peak in New Zealand, the No 1 global dairy exporter.