It was another largely uneventful week on the dairy scene, with only slight increases and decreases in the different product categories.

There is some expectation that prices should lift when the summer holiday season ends, but as of yet that has not happened.

Looking at the Global Dairy Trade (GDT) auction first, that recorded a 0.3% decline in the value of the index compared to the last auction, which recorded a 0.7% increase. In other words, no real change in the overall GDT index.

However, most categories have recorded a drop in price, with the exception of whole milk powder (WMP) which increased by 0.3%. Skim milk powder (SMP), took one of the biggest drops recording a 1.8% decline at this auction.

The next notable change was for butter, which fell by 1%, while its sister product anhydrous milk fat recorded a marginal 0.1% gain. Cheddar also recorded a drop, falling in price by 0.5%.

Mozzarella, which is in the news in Ireland, dropped in price by 2.7% but the amount of mozzarella sold at the GDT is very low.

European prices

Meanwhile in Europe, prices remain stable with butter dropping in price by €10/t, WMP increasing in price by €5/t, SMP increasing in price by €10/t, while cheddar went the opposite way decreasing in price by €10/t.

Most markets are still in holiday mode, so it really won’t be until September that a true picture of the market will be available.

Milk supplies in Europe remain mixed, with June supplies back by over 2% in Germany, reflecting a fall in year to date production by over 2.5% relative to 2024.