Global Dairy Trade (GDT) event in New Zealand event saw the average price slip 1.5% on the last event held two weeks earlier, but not all dairy commodities reflect a downward trend.

The overall drop was driven by a 2% decrease in the value of whole milk powder traded and a 2.6% fall in anhydrous milk fat prices.

Butter rose 3.8% - the largest proportional change in value of any commodity traded - while cheddar also managed to move against an overall negative dairy trend to rise 1.5%.

The last event two weeks ago also saw a strong rise in butter, when its value increased 6.6%.

Traded volumes were back around one-seventh on the last GDT event, when high volumes were moved.

The indexed trade is back around 43% on this time last year, which was the first time since 2013 that the GDT index exceeded 1,500.