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World dairy commodity prices rose 2% at this week’s Fonterra GDT online auction.

All products rose in price except butter and buttermilk powder.

Two of the three most recent sales have seen an overall increase, leading to hopes for a more sustained improvement.

Among the main commodities, cheddar prices saw the biggest increase, up 10.5%, to US$2,778/t (£1,984/t).

See also: Row over Defra’s farmgate milk price ‘rise’