The Global Dairy Trade (GDT) auction has seen its overall price index increase by 4.9% this week.

A smaller level of available stock is believed to be the reason behind the price increase.

Skimmed milk powder (SMP) price increased by 6.5% to an average of $1,818/t, while whole milk powder (WMP) increased by 5.1% to an average of $3,010/t.

Butter has held its attractiveness and went up by 8.8% in price to an average price of $6,547/t.

The price increase follows a positive start to 2018 for the dairy industry with overall prices increasing by 2.2% in the first week of January.

Previous auctions at the end of 2017 saw five price drops out of six sales.

The latest recovery sends a positive signal as co-ops set December milk prices.

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