At this week’s GDT Pulse event, butter settled lower, averaging US$5,265/t, down –2.0% from GDT #408 and –0.9% from the last GDT Pulse. The average WMP price settled at US$3,435/t, down –0.3% from last week’s GDT Auction but up +0.7% from the previous Pulse event. SMP averaged US$3,160/t, down –0.9% from GDT #408 but +1.3% higher than the prior Pulse. AMF declined –0.8% from the last GDT Auction but was up 4.6% from the last Pulse event, averaging US $6,545/t.