The Global Dairy Trade (GDT) price index has risen by 0.4% at the latest auction held on 20 October.

It is the third consecutive increase in the index, but the smallest lift since 15 September.

The average price now stands at just under $3,159 (€2,671.90).

In total, 34,648t of product was sold.

There was an increase for cheddar, up by 3% to $3,803 (€3,216.60). The price paid for whole milk powder (WMP) rose, up 0.3% to $3,037 (€2,568.71).

The largest drop was in the price paid for lactose, down 8% to $1,087 (€919.39), while butter rose by 3.3% to $3,678 (€3,110.87).

Skim milk powder (SMP) fell by 0.2% to $2,663 (€2,229).

The next auction will take place on 3 November.

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GDT price index falls marginally