The Milk Exchange’s third trading event saw milk buyers lift their bids, while volumes offered by suppliers in NSW and Victoria also increased as the start of the new season draws nearer … however no contracts were settled. A total of 118.2m litres milk were on offer at the event, with bidding up 38c/kgMS in Gippsland and 8c/kgMS in southwest Victoria from the previous auction. Milk buyers in Victoria bid $6.70 – $7.15kgMS with an average of $6.94kgMS, up 26c/kgMS from the latest event at the beginning of May. Milk Exchange’s Richard Lange said the gap between offer prices and bid prices narrowed by 13c/kgMS.