The average price index at today’s GDT auction for Fonterra was up 5.1%—the biggest increase for a year—with the index now up 19.5% so far in 2022.

The overall average price was a record $5,065/t. WMP was up 5.7% with an average price of US$4,757/t, SMP up 4.7% at $4,481/t, Cheddar up 10.9% at $6,394/t, butter up 5.9% at $7,086/t), BMP up 5.8% (from a month ago) at $4,217/t, AMF up 2.1% at $7,048/t, and lactose up 0.9% at $1,634/t. A total 25,208t of product was sold, down 9.1% from last time and 1.4% less than this time last year.