The negative sentiment around dairy markets continued this week, with the latest Global Dairy Trade (GDT) price index dropping for the fourth time in a row.
This time, the drop of 1.6% was not as severe as had been feared in some quarters, but it continues to pile the pressure on milk prices.
The auction prices of butter, skim milk powder (SMP), whole milk powder (WMP) and mozzarella were all back.
Butter fell by 3% to an equivalent of €5,747/t; butter milk powder fell by 2.3% to €2,370/t; SMP was back by 0.5% to €2,226/t; WMP fell 2.3% to €3,165/t; while mozzarella fell by 11.8% to €2,905/t.
Cheddar
In contrast, the trading price for cheddar rose by 0.8% to €4,160/t. The trade for anhydrous milk fat was also stronger, rising by 1.2% to 45,922/t.
The volume of product traded through the GDT was high this week at over 42,000t.
The latest drop in the GDT index comes as the boards of Lakeland Dairies and Tirlán prepare to meet to set September milk prices.
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