GDT #396 marked another uptick in the index, which rose 1.5% from the prior auction.

Fonterra Regular WMP C2P rose 0.7%, with buyers in the Middle East and Africa picking up more. Even still, relative demand was weak, and volumes sold declined seasonally. North Asia buyers picked up more SMP versus a year ago. Fonterra MH SMP CP2 increased 1.5% on improved demand. The Solarec CP2 SMP price rose 5.1%.

Fonterra CP2 butter saw the largest gain, +3.3% to US$5,380/t, with a notable increase in volume bought by North Asia. Fonterra AMF CP1 prices increased 7.7% (or $470/t). AMF volumes on offer declined 29% from the prior year.

Cheese prices declined, with the overall index down 1.5%. Fonterra Young Cheddar CP2 fell 0.5%. Arla Mozzarella CP2 declined 3% to €2,828/t. Solarec mozzarella price also dropped.

Lactose prices fell for the second consecutive event to US$1,385/t.