It was the first increase since the decline began in May and prices increased for all commodities except cheddar.
The whole milk powder (WMP) price index was up 2.5%.
Regular grade WMP to ship in February was also up 2.5% on the November 20 auction.
In a note, NZX dairy analyst Amy Castleton said the result was in line with the NZX Dairy Derivatives market expectations leading into the event, for this grade and contract of WMP.
“There was likely increased demand for WMP given the lower volumes on offer compared with the previous event,” she said.
“WMP offer volumes are coming back off their peak at the previous GDT event which is in line with normal seasonal trends.”
Anhydrous milkfat (AMF) and butter increased 3.9% and 2.7% respectively.
Regular grade AMF and unsalted butter to ship in February lifted 3.9% and 4.1% respectively.
The skim milk powder (SMP) index was fairly stable, nudging up 0.3%.
