The strong start seen in global dairy markets to start 2020 has continued, as the benchmark GDT price index rose by 1.7% at the latest auction.

Butter was the biggest mover, up by 5.5% to $4,250/t (€3,828/t), while cheddar prices saw a slight increase to $4,048/t (€3,636/t).

The price of whole milk powder (WMP) also continued on an upward trend, up 2.4% to $3,233/t (€2,912/t). Following a large jump at the last auction, skimmed milk powder (SMP) increased marginally to $3,036/t (€2,735/t).

There was a total of 33,165t sold to 191 winning bidders at the auction.

The next event will take place on Tuesday 4 February.

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Dairy markets: GDT price index lifts by 2.8%