Dairy commodity markets received a major boost this week, with prices up at both GDT and Dutch Dairy Board auctions.
Tuesday’s GDT event was the second positive auction in a row, with the price index rising 4% to US $3,927/t.
The butter price increased by 3.7%, with cheddar up 3.6%. Skim milk powder (SMP) jumped by 7.3%, while whole milk powder (WMP) rose by 3.3%.
At the weekly Dutch auction, the butter price rose by €30/t and has now recorded six price increases in a row.
SMP has also been rising in value over the past six weeks, and strengthened by a further €30/t. WMP jumped by €70/t, making it the third weekly price rise in a row.