The products saw varying movements with butter the outstanding performer with a 9% increase to the index and an average price of US$3136/t.
The lactose price index increased 6.8% to an average winning price of US$542/t and anhydrous milkfat price index rose by 6.1% to an average winning price of US$3721/t. Smaller increases were made on the cheddar index up 1.1% to US$2856/t and the two major products whole milk powder and skimmed milk powder rising 1.8% (US$2304/t) and an insignificant 0.2% (US$1891/t) respectively.
The butter milk powder index fell 6.1% to US$1564/t and rennet casein dropped the largest amount with 9.5% to an average winning price of US$4541/t.
The auction was one of the quickest for the year lasting one hour and thirty-nine minutes over 10 rounds.
Participating bidders were the same as the previous auction at 161 but the number of winning bidders was lower at 112 compared to 121.
A total of 24,888t of product was sold at the last event of the year. This is the lowest volume sold since June this year.
The results weren't anticipated by the NZX Futures market which anticipated a rise in WMP prices by more than 10%.
The next event will be early in the New Year on January 5.
