The index lifted 0.7% on mixed price trends and another large seasonal step-up in powder offer volumes. Despite the increased offering, demand was above average for powders but weaker for fats.

NZ WMP delivered the standout results on another steep 54% lift in sales volumes, with average prices rising 2.1% to US$4,012/t. Chinese buyers increased their involvement to half the sales, taking a higher tonnage than the same event a year ago. SE Asian involvement also lifted. Demand was above average. EU WMP fell 2.5% in US dollars but €25/t higher in Euros.

NZ SMP gave a mixed set of results as well, with net small losses, but that was on an almost 80% lift in tonnage, so also a good result for the sellers. NZ Medium Heat CP2 fell $5/t on the previous auction to US$2,800/t. EU prices were also mixed with Arla faring better than their Belgian counterparts.

NZ butterfat was again mixed with weaker butter prices across all contracts while AMF firmed other than ongoing correction in CP1 AMF. The NZ C2 butter price fell 4.4% to US$7,270/t, while the C2 AMF price rose 1.6% to US$7,081/t. Chinese buyers again accounted for 2/3 of the butter sales while SE Asia and Oceania taking half the AMF sales.

Cheddar steadied on average across the 800t sold, with sales spread across regions. The C2 for Young Cheddar lifted US$80/t after a weak run, to US$4,620/t. EU Mozzarella was unchanged in US$/t with a small gain in Euros for the 42t sold.