The Global Dairy Trade (GDT) price index has recorded a second increase in a row following its latest auction.
Event 316, which was held yesterday (Tuesday, September 20), saw the index climb by 2% to 1,208.
It follows a jump of 4.9% on September 6, which was the first increase in the index since June.
The GDT index had been on an overall downward trajectory since the record high of 1,593 posted following trading event held on March 1.
Despite the latest increases, the dairy commodity tracker is still lingering around levels last seen around a year ago.
The average price at yesterday’s auction was $4,072/MT with 26,106MT of produce sold.
113 of the 169 bidders taking part were successful, with 16 rounds of bidding over two hours and 24 minutes.
The positivity around whole milk powder (WMP) continued with a 3.7% increase in average price to $3,733/MT. WMP saw a 5.1% jump in price in the previous GDT auction.
Anhydrous milk fat (AMF), which had an impressive 13.9% average price increase on September 6, rose by a further 4% to $5,901/MT.
Skim milk powder (SMP) dropped by 0.7% to $3,547/MT and there was a slight drop of 0.2% in butter price to $5,356/MT.
The average price for cheddar was $5,147/MT, an increase of 2.1%.
Butter milk powder (BMP), which saw a 5.1% drop in average price during the previous auction, was not offered for sale yesterday.
Sweet whey powder (SWP) and lactose were also not sold at the event.