The Global Dairy Trade (GDT) index has increased for a third consecutive auction, up by 6.7% overall with increases across all commodity prices.
At the last auction which took place two weeks ago, the GDT index was up 1.5% and followed a 6.3% rise at the previous auction.
At Tuesday's trading event, prices for whole milk powder, which makes up on average half of the product traded, rose by 5.3% to €3,052/t.
Skim milk powder accounts for on average a quarter of the product traded and rose by 10.6% to €2,427/t.
Anhydrous milk fat prices were up also up at this auction by 5% to €5,510/t.
Meanwhile butter prices increased by 8.8% to €4,876/t and prices paid for butter milk powder rose by 6.4% to €2,658/t.
Mozzarella, cheddar and lactose prices all rose at this latest trading event, by 10.6%, 3.8% and 1.5% respectively.
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