A technical glitch delayed the GDT results following event #397. The index rose 6.7%, the third consecutive lift in the index with increases across all commodity prices.

NZ Regular WMP C2 prices rose 6.1% to US$3,590/t, with Chinese buyers picking up more volume. Relative demand was stronger than the prior event, and volume sold seasonally declined. Fonterra MH SMP C2 increased 10.4% to US$2,920/t on improved demand. EU buyers picked up more volume, but purchases declined in North Asia. 

Fonterra C2 butter rose 8.6% toUS$5,840/t, and North Asia picked up more than half the volume. Fonterra AMF C2 prices increased 5.3% (or US$310/t) to US$6,491/t with offer volumes down 32% from the prior year.

Cheese prices improved, with the overall index up 3.8% to US$4,772/t. Fonterra young cheddar C2 rose 1.4% to US$4,670/t and Arla mozzarella C2 rose 9.4% to €3,117/t. The Solarec mozzarella price also increased. Lactose prices recovered following two consecutive declines, rising 1.8% to US$1,410/t.