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

The index has increased by 2.5%, showing an average price of €3,582/t, at the auction which took place today (Tuesday, October 20).

This event saw a total of 42,088t of dairy commodities traded.

145 bidders participated in the auction, with 105 winning bidders emerging over the 17 bidding rounds, which lasted two hours and 45 minutes.

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 anhydrous milk fat (AMF) dipped by 3.4% to €4,889/t.

Butter dropped too, albeit by a lower amount – down 0.4% to €4,206/t.

Butter milk powder (BMP) saw a rise of 8.4% to €4,182.

Cheddar saw a decline of 7.4% to €3,247/t.

Lactose saw a slight rise of 0.6%, bringing it to €1,483/t, while mozzarella was also up, by 1.3%, to €3,457/t.

There was also a rise for skim milk powder (SMP). It rose by 3.4% to €3,541/t.

At the same time, whole milk powder (WMP) rose by 4.4% to €3,350/t.

The next trading event is due to take place on October 23.

Dairy

Earlier today in other dairy news, Carbery group announced its milk price for September which sees an increase on its base milk price by 1c/L.

This week (Monday, October 19), Tirlán confirmed the milk price for September will be 40.08c/L, including VAT and the 0.5c/L Sustainability Action Payment.

This marks an increase of 1c/L on the August milk price.

Meanwhile, Dairygold increased the September quoted milk price by 1c/L to 40c/L.