The Global Dairy Trade (GDT) index has increased following the latest trading event held this week.

The index has increased by 1.2% to 1,177 as a result of the auction which took place yesterday (Tuesday, October 6).

The result reverses the impact of a 1.1% fall in the index after the last trading event in mid September.

This week's event saw a total of 41,692t of dairy commodities traded with an average winning price of $3,928/t.

165 bidders participated in the auction, with 124 winning bidders emerging over the 18 bidding rounds, which lasted almost three hours.

The results show a mixed picture when it comes to movement in the average prices for each of the product sub-indices.

The index for skim milk powder (SMP) rose by 4.3% to an average price of $3,847/t.

Whole milk powder (WMP) was up 1.2% to an average of $3,605/t, while butter milk powder rose by 0.7% to $4,123/t.

However, there was a 6.9% fall in the average price of lactose to $1,677/t.

Cheddar was back 3.7% to $3,925/t and mozzarella decreased by 3.9% to $3,833/t.

There was a slight fall (-0.3%) for butter to leave an average price of $4,740/t, while anhydrous milk fat was down by 1.1% to $5,683/t.

The next trading event is scheduled to take place on Tuesday, October 13.