The Global Dairy Trade (GDT) event which took place on 1 March saw a 5.1% increase in price index from the previous auction, with cheddar and butter among the main product drivers.

This 5.1% increase in price equates to an average price of €4,560/t.

Cheddar was the biggest driver in the overall price index, which rose by 10.9% and averaged at €5,754/t.

Other key drivers were butter and butter milk powder up 5.9% and 5.8% respectively.

The anhydrous milk fat (AMF) index was up 2.1% at an average price of €6,344/t.

Up just 0.9% was the lactose price index, which is the equivalent of €1,470/t.

There were 176 bidders at the event and 25,208t of products sold.

Price index for sweet whey powder was not offered as no price was published for the last event.

The next trading event will take place on 15 March 2022.