Dairy prices continue to rise at the most recent Global Dairy Trade (GDT) auction, with prices up by 1.2% this Tuesday.

This is the second successive increase and the fifth in just two months since there was a sizeable drop of 6.9% on 2 July this year. Since then, the market has rebounded by 8%.

However, only half of the products saw an increase in price, as 38,848t of dairy product changed hands with 191 bidders at the auction.

Average prices

The big risers at the auction were cheddar, which rose by 3.8% up to €4,155/t, along with butter milk powder, which jumped by 5% to €2,850/t.

Whole milk powder also saw a substantial rise of 3.8% to €3,210/t, while lactose also increased up to €859/t, up 6.7%.

Looking at the other end of the scale, mozzarella dropped significantly to €4,474/t - down 7.7%.

Butter also decreased in value, falling by 1.4% to €5,779/t.

Meanwhile, there were marginal falls for skim milk powder and anhydrous milk fat to €2,521/t and €6,526/t respectively.