The Global Dairy Trade (GDT) index has increased after the latest trading event today (Tuesday, September 1).

This was the fourth increase in the index in a row.

The index has increased by 0.9%, reflecting an average price for product sold during the trading event of €3,372/t.

The index figure now stands at 1,177, up from 1,166 at the last trading event.

In today's event, a total of 43,976t of product was sold, and 157 bidders took part.

115 winning bidders emerged across 17 bidding rounds, which lasted a total of two hours and 46 minutes.

In the graphic below the shaded dials indicate the proportion of each product group sold versus total quantity sold during the previous 12 months, with a three month lag.

Figures within the dials represent the percentage change in GDT price index and the weighted average price.

Looking at the individual product sub-indices, the index for cheddar dropped by 6.6%, reflecting an average price of €3,021/t.

Anhydrous milk fat declined by 1.3% to €5,103/t average price, while butter decreased by 0.8% to €4,336/t.

Whole milk powder also declined by 0.1% to €3,092/t.

Skim milk powder increased by 5.3%, for a price of €3,187/t.

Butter milk powder grew by 4.6% for a price of €3,567/t.

Lactose increased by 2% to €1,647/t, along with mozzarella by 0.3% to €3,660/t.