The price index rose 5.5% at GDT event #362, as demand improved.

WMP was again stronger across all contracts, lifting 7% on average (the biggest gain in 3½ years) to average US$3,482/t. SMP prices partly reversed the recent losses, with prices rises across all contracts taking the average price to US$2,636/t.

Butterfat buyers got past some of the short-term urgency, but with the European market on fire, demand for NZ fats was stronger and delivered healthy boosts to both commodities. Butter averaged US$6,706/t, lifting 3.7% while AMF rose 4.8% on average to US$7,244/t.  

Cheddar prices defied the stronger prices in northern hemisphere and while the C2 Young Cheddar price lifted 3.6%, later prices were weaker. Mozzarella again reflected the strength of the EU market, gaining 5% to US$4,810/t.