Average prices of dairy products rose to the highest level since July overnight, with gains in both whole and skim milk powder, the biggest products on offer.
The GDT-TWI Price Index rose 2.6 per cent, the second increase in a row of that size, according to the latest results posted on the globalDairyTrade auction website. The average winning price rose to US$3,737 a metric tonne. All seven products on offer gained.
Whole milk powder rose 2 per cent to US$3,637 a tonne and skim milk powder gained 2.6 per cent to US$3,424. Anhydrous milk fat climbed 12 per cent to US$4,013 a tonne and milk protein concentrate gained 0.5 per cent to US$6,280 a tonne.
Rennet casein rose 3.6 per cent to US$8,721 a tonne. Butter milk powder rose 14.4 per cent to US$3,410 a tonne and cheddar rose 2.1 per cent to US$3,572 a tonne.
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There were 111 winning bidders from 173 participants over 14 rounds. The platform has 491 qualified bidders, up from 482 at the last auction.