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The GDT price index has risen to a 28 month high point this week following a 1.9% increase at Tuesday’s auction.
The second and final GDT event for November saw the price index finish on 1,239, putting it at its highest level since July 2022.
Butter rose by 0.5% to US $7,008/t, while whole milk powder increased by 3.2% to its highest level since July 2022 at $3,826/t. A 0.9% increase brings skim milk powder to its highest level since February 2023. Across 2024 to date, 16 out of the 24 auctions have ended with positive price outcomes.
European markets are also strong, with various prices up at the latest Dutch Dairy Board auction. Whole milk powder increased €50 to €4,290/t, with skim up €70 to €2,620. Butter was unchanged at €7,950/t.
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