GDT event #381 yielded a 1.6% decrease in the overall index The auction was similar to the previous auction with negative results across NZ products other than AMF, while EU fat, SMP and cheese prices lifted in line with recent form in that market.

WMP took the heaviest hit, down 3.9% in C2 to $4,180/t in line with last week’s Pulse. EU WMP posted a 6% lift for CP2.

SMP was also mixed between origins, with NZ Medium Heat CP2 dropping near 3% to US$2,825/t, falling below last week’s Pulse outcome, while later-delivery losses were milder. EU product prices posted small gains but were a little weaker in Euros, averaging near €2,380/t. 

NZ butterfat continued mixed, with more product offered at #381 than forecast. AMF nudged more than 1% higher for the 5th time in a row on strong demand to US$7,373/t. NZ unsalted butter fell slightly to US$7,800/t for C2, but with heavier losses later when availability lifts.  EU butter prices for C1 surged 5.6%, reflecting the firmer local spot market, with C2 up 3%, ending near €7,450/t.

Cheddar again slumped but by a smaller amount compared to #380, dropping 3.4% at CP2, to below US$5,000/t. EU Mozzarella pushed higher by 1.7% for CP2, with just short of 600t sold. Solarec product achieved a small lift to €4,321/t, while Danish product had a stronger lift but remained lower than the Belgian origin price.