GLOBAL - At this week's Global Dairy Trade (GDT) auction, the price index rose by 3.4 per cent.
The average price reached at the event was $2,329 USD/MT, FAS.
This is the second price rise in a row, and only one in the last five auctions has shown a decrease in dairy prices, forming an overall upward trend.
UK levy board AHDB Dairy suggested the turnaround might reflect market sentiment that milk production growth is slowing.
The biggest price rises at the event were seen for skimmed milk powder, which increased by 12.1 per cent, and butter milk powder, which went up by 14.2 per cent. Butter prices increased by 3.2 per cent and cheddar prices by 7.8 per cent.
However, whole milk powder did not fare so well, with prices decreasing by 1.7 per cent.
AHDB Dairy suggested the fall might be due to Fonterra's recently forecasted WMP volumes, which nearly doubled in size.