Dairy prices increased by 0.9% at Tuesday's Global Dairy Trade auction, with skim milk powder (SMP) and cheddar the main drivers of the price increase.

Average dairy prices at the latest auction stood at $3,271/t (€2,891/t).

SMP prices were up 2.8% to an average price of $2,580/t (€2,280/t), while cheddar prices increased 2.9% to an average price of $3,667/t (€3,241/t).

Butter

Butter prices were up 1.2%, while whole milk powder (WMP) was up 0.3%.

At the first Global Dairy Trade auction in February, dairy prices jumped 7% to an average selling price of $3,265/t (€2,870/t).

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