The GDT index jumped more than 3% at this week’s auction in New Zealand. The benchmark dairy index has now recorded seven consecutive positive performances and is at its highest point in over a year.

This week’s GDT auction was led higher by a 6% increase in the average selling price of whole milk powder (WMP) to just over $3,185/t (€2,820/t).

WMP is the most important dairy commodity traded on the GDT platform accounting for over 50% of all product sold.

Fat-filled dairy products

There were also strong gains in price for fat-filled dairy products. Butter prices jumped 4% to an average of $4,660/t (€4,125/t), while anhydrous milk fat prices also rose 4% to hit $5,840/t (€5,170/t).

Cheddar prices jumped 6% at this week’s GDT to hit $3,890/t (€3,445/t).

The only product to see its average selling price decline was skimmed milk powder (SMP). This week’s GDT saw average prices for SMP drop more than 4% to just above $2,460/t (€2,180/t). Despite the decline, SMP prices recorded on the GDT platform are still more than €200/t ahead of European SMP prices.