The Global Dairy Trade (GDT) auction held on Tuesday 2 January saw the price index creep another 1.2% upwards in the index’s latest rise.

Whole milk powder increased 2.5% on 2023’s last auction - the largest proportional rise of any product traded - while skimmed milk powder fell 0.9%.

Lactose took the largest proportion tumble, trading down 5.0% to an average price of €681/t.

Butter rose by 2.1% to reach an average price of €4,990/t, while cheddar decreased 2.4% to €3,769/t and mozzarella remained unchanged.

Anhydrous milk fat increased slightly to €5,063/t and butter milk powder saw a marginal slip to €2,158/t.

The GDT index is the highest it has been since the trading event held on 21 February 2023 and prior to this, the index had not exceeded its current level since January 2021.

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GDT at highest level since March

Global Dairy Trade is a lot more than a fortnightly auction