Dairy commodity prices fell again at GlobalDairyTrade’s latest auction, with the weighted index down by 0.6%, to US$3,000 (£1,805/t).
Skimmed milk powder led the decline, losing 12% of its value compared with the previous fortnight’s sale. Cheddar prices dropped by 7.9%, but butter and whole milk powder increased by 4.9% and 3.4%, respectively.
Promar’s latest MilkMinder results showed that average milk yields in June fell by 0.6 litres compared with last year, to 25.9 litres a day. Yields from forage fell sharply, but better milk prices and an increase in herd size to 187.3 cows meant overall milk sales increased by £3,345, to £40,799.
Concentrate use jumped from 31.5t to 37.4t, meaning that, despite cheaper feed prices, expenditure on feed increased to £9,498. The margin over purchased feed increased by 0.77p to average 24.55p/litre.
In the rolling average results, annual milk yields increased from 7,540 litres to 8,058 litres, while feed costs fell from 9.1p/litre to 8.63p. The margin over purchased feed jumped from 20.59p/litre to 24.85p/litre, putting the average herd margin at £368,195.