Dairy product quotations for all three of the main dairy producing regions are up this week, mirroring the bounce in the Global Dairy Trade (GDT) auctions recently.

Butter price in the US continues to rise. Quotes from Monday this week lifted 5.2%, with latest quotations at $5,800/t.

Whole milk powder (WMP) quotes for this week remained the same at $2,800/t. Cheddar also remained more or less the same at $3,680/t.

All these prices are well ahead of quotations in other parts of the world.

In the EU, the butter price quotation for this week is $3,200/t, up 1.6% from the previous quotes two weeks ago.

EU butter quotes are down 20% on the same time last year.

EU prices for WMP remained the same at $2,425/t, while cheddar was down just slightly at $3,343/t.

Interestingly, the quotations for this week from Oceania were up significantly, reflecting the last three consecutive lifts in the GDT auction.

Oceania quotes for butter are up to $2,988 from $2,825/t. Quotes for WMP are up almost $300/t from $2,025 to $2,300/t.

Oceania cheddar prices lifted from $3,292 to $3,343/t.

Spot price rose on all markets over the last number of weeks in line with the recent lift in the GDT.

Italy was at about 34.5c/litre, Dutch weekly spot prices were at 25c/litre and Dutch monthly spot prices at 26c/litre.

Supply is up in the EU, but only marginally. The lift from January to June inclusive was 0.8%.

Chinese imports are lower, especially for WMP and butter.

The quantity of powder imported by China is down to 259,000t from 570,000t in total for January to July 2014 compared with the same period in 2015.