The GDT ended 2018 on a positive note with average dairy prices rising 1.7% at this week’s auction in New Zealand.

With just over 36,000t of product sold this week, dairy commodity prices from the benchmark dairy index were led higher this week by higher returns for fats.

Butter prices rose 5% at this week’s GDT auction close to $3,928/t (€3,455/t), while the price of anhydrous milk fat rose 4% to hit $4,940/t (€4,345/t).

Cheddar prices were also up, rising more than 2% to hit $3,265/t (€2,870/t).

Powders

On the powder side, the price of whole milk powder (WMP) was up marginally (+0.3%) close to $2,675/t (€2,350/t), while skimmed milk powder (SMP) prices jumped more than 3% this week to break the $2,000/t (€1,795/t) mark.

While the GDT finishes 2018 on a positive note, the last six months have been disastrous for dairy commodity prices on the auction platform. From late May, the GDT index recorded seven months of consecutive price declines.