Prices of whole milk powder (WMP) have risen 5.2% to $3,233/t at Tuesday's GDT auction in New Zealand. WMP is New Zealand's most important product.

Overall, prices were up 3.6% to $3,166/t and this is the fourth consecutive rise for the GDT. Prices at the auction two weeks ago rose 3.5%.

Butter continues to perform strongly with prices rising 1.1% to $4,911/t. Cheddar had another strong auction with prices settling at $3,666/t, up 4.6% from two weeks ago.

On the powder side of the market, and away from WMP, skim milk powder (SMP) prices fell slightly by 0.9% to $1,982/t.

There were a total of 166 bidders and 22,663t of product was sold.

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