International dairy prices improved slightly at this morning’s Global Dairy Trade auction, the GDT price index gaining by 1.4 per cent since the last sale early this month.

Wholemilk powder prices, which have the greatest bearing on Fonterra’s farmgate milk price, gained by 2.9 per cent to US$2760 a tonne.

Today’s gain partly offsets the previous sale’s 3.0 per cent decline in the GDT index, which occurred after a sharp spike higher over August and September.

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