The recovery in milk prices has gathered pace over the last fortnight with futures markets for dairy commodities continuing to harden. The future price for butter for quarter four of the year had improved to €3,450/t, with skim milk powder (SMP) on €2,230/t. Meanwhile, Dutch butter and skim milk powder (SMP) prices have held recent gains, with butter trading at €3,120/t, while SMP was on €2,200/t. Whole milk powder (WMP) sold for €2,630/t. The positive news has halted the Covid-induced slide in Irish milk prices, with dairy processors forced to accept that markets have settled.

Source: Irish Independent June 22, 2020 06:45 UTC