GDT event #368 was a great event for butter but across other products starting demand was generally a little weaker than average with the index increasing 1.9%.

 SMP price averaged US$2,882/t, up 1.1% on average, but with better NZ prices and weaker EU outcomes. Prices lifted across all delivery periods.

WMP prices rose 3% on average to US$3,826/t with a big lift in Chinese participation at this event.

Butterfat was also a mixed story for regional suppliers. Butter averaged US$7,008/t, up 0.3% on average with significantly lower result for C1 and price gains for later deliveries. AMF booked small increases across C2 to C4 contracts, averaging a 0.8%increase to US$7,622/t.

Cheddar lost heavily in near-term contracts, down 2.8% on average to US$4,834/t. Mozzarella — offered by Blegium-based Solarec- tumbled 6.6% to US$4,315/t, reflecting EU market trends.