The Global Dairy Trade (GDT) index was down 2.8% at the latest auction held on Tuesday 17 December.

This is the most significant drop since the index fell by 6.9% on 2 July 2024, with just two dips of 0.4% on 3 September and 0.3% on 15 October recorded since.

Products traded were down across the board, except for lactose, which saw a 0.5% rise to €872/t.

Anhydrous milk fat recorded the largest percentage drop, back 3.8% to €6,923/t.

Both whole milk powder (WMP) and skim milk powder (SMP) were back 2.9% in price compared with two weeks ago at the auction. WMP traded at an average of €3,706/t, while SMP was €2,626/t.

The price paid for mozzarella decreased by 1.8% to €3,842/t, while butter was down 0.6% to €6,317/t.

Finally, the price of cheddar at the fortnightly auction was back marginally, by 0.2% to €4,460/t.