The latest Global Dairy Trade Auction (GDT) has concluded with a 1.9% increase, marking the eighth consecutive auction where an increase in average price was recorded.
Butter and cheddar both recorded an increase, with butter prices surging by 9% up to US$5,089 (€4,482)/MT, while cheddar increased by 3.9% to US$4,036 (€3,555)/mt.
Whole milk powder (WMP) was also up, with a 4% increase to US$3,317 (€2,921)/mt.
SMP
Skimmed milk powder (SMP) recorded a drop of 2.4%, to an average price of US$2,405 (€2,118)/mt.
Overall, there were 112 winning bidders with 174 bidders taking part. A total of 21,713mt were sold.