The New Zealand Global Dairy Trade (GDT) auction held on Tuesday saw the trading event's price index increase by 3.3% to its highest level since October 2022.

This week’s rise follows a 1.8% strengthening in the index at the previous auction on 7 May.

None of the average prices of products traded slipped, as 18,561t of dairy products changed hands.

Average prices

The average price paid for mozzarella increased by 9.8% to €3,881/t, with lactose receiving a similar boost of 8.1% to €732/t.

Butter traded at €6,381/t after a rise of 5.1% on the previous auction and there was a 2.9% lift in whole milk powder to €3,138/t.

An increase of 3.5% was seen in the prices of both skimmed milk powder and anhydrous milk fat, with these commodities averaging €2,421/t and €6,781/t respectively.

Cheddar prices remained stable at €3,903/t.