After five falls, the price index rose 1.1% at this week’s GDT auction #384, with buyers adjusting to volumes being on familiar footing.

NZ WMP prices rose 1.8% to average US$3,928/t. The C2 price for regular product rose 0.1%, while instant product was up 3% following Fonterra’s announcement that restrictions on volume would be eased! The price for medium heat NZ SMP rose 0.7% compared to #383 and was US$90/t above the prior Pulse result, while EU prices were mixed.

Butterfat trends were mixed again the average butter price was just 0.4% down at US$7,492/t, with the C2 price for NZ product falling 2.9%. The C2 price for EU product fell 4.1%. After a run of falling prices, AMF steadied, up just 0.6% to average $6,973/t.

Cheese prices took the biggest hit, down 5.6% on average with the NZ young cheddar C2 price falling 7.7%. EU Mozzarella was mixed, with a small increase for Arla while Solarec took a 3.8% hit in US dollar terms, to slip to €4,025/t.