The Global Dairy Trade (GDT) price index has risen by 4.3% at the latest auction held on 1 December.
It is the second consecutive increase in the index, and the largest lift since July.
The average price now stands at $3,261 (€2,706.19).
In total, 32,062t of product was sold.
Lactose experienced the greatest increase, up 13.5% to $1,004 (€833.18).
There was an increase for whole milk powder, up by 5% to $3,182 (€2,640.63). The price paid for skim milk powder rose, up 3.6% to $2,889 (€2,397.48).
Butter rose by 3.8% to $3,986 (€3,307.84). There also was an increase for cheddar, up 2.4% to $3,734 (€3,098.72).
The next auction will take place on 15 December.