The Global Dairy Trade (GDT) index has recorded its second consecutive decrease after the latest trading event.

The index has decreased by 2.7%, reflecting an average price of €3,523/t of product sold.

The decrease in the index (which is updated after trading events that take place every two weeks) follows a decrease of 3.4% on April 7.

That last decrease followed six consecutive increases in the index, starting on January 6.

At today's trading event, a total of 14,993t of product was sold.

147 bidders participating in the auction, with 99 winning bidders emerging after the two hour and 45 minute event, which spanned 17 bidding rounds.

The index figure now stands at 1,196, the lowest figure since February 3.

Looking at the sub-indices for the individual products, anhydrous milk fat (AMF) took the biggest hit, with the index falling by 9.6%, reflecting a price €5,405/t.

Butter was also challenged, with the index there falling by 7.9% for a price of €4,848/t.

Mozzarella also recorded a decrease, falling by 3.1% for a price of €3,274/t; while the whole milk powder (WMP) index fell by 0.6% for a price of €3,117/t.

There was better news for other products, including lactose, which increased by 7.2% for a price of €1,338/t.

Skim milk powder increased by 3.2% for a price of €2,932/t; while the index for cheddar increased by 1.1% for a price of €4,080/t.

No percentage change in index or average price was available for butter milk powder (BMP) after this trading event.

Milk prices

Processors in Ireland have announced their milk prices for farmers for March supplies over the last two weeks.

Most recently, yesterday (Monday, April 20), Carbery Group announced an increase in its base milk price for March.

The processor has announced an increase in its base milk price of 3c/L.

As well as that, Carbery also announced that it will make a payment of 1.5c/L from its Stability Fund.

Carbery said that if its base milk price increase is replicated across the four west Cork co-ops of Bandon, Barryroe, Drinagh, and Lisavaird, this will result in an average milk price of 40.80c/L, including VAT, a 0.5c/L somatic cell count (SCC) and the FutureProof sustainability bonus.

Based on actual milk solids, the price paid for March milk will be 45c/L, including VAT, the processor said.

A spokesperson for Carbery Group said: "We are not seeing the improvement in dairy markets that we would like, and supply continues to impact on prices being delivered.

"However, we recognise the importance for our farmer shareholders of delivering the maximum milk price, especially as we head into peak milk production months," the spokesperson added.