The Global Dairy Trade (GDT) auction held on Tuesday closed with the trading event’s price index down by 6.9%.

This comes following a 0.5% drop at the last biweekly auction and three consecutive rises prior to that.

The majority of the average prices of products dropped, as some 24,138t of dairy changed hands at the auction.

Average prices

The average price paid for anhydrous milk fat dropped by 10.7% to €6,065/t.

Butter also saw a significant decrease, back 10.2% to €6,092/t.

The price of cheddar was down 6.9% to €3,704/t.

The average price of all milk powders dropped. Skim milk powder decreased by 6.1% to €2,407/t, butter milk powder fell by 5.1% to €2,487/t and whole milk powder was back 4.3% to €2,995/t.

The only rise in price recorded was lactose, up 0.6% to €748/t.

The average price of mozzarella finished at €3.965/t, with no price percentage increase or decrease available.