The Global Dairy Trade (GDT) index fell 3% in Tuesday’s auction, which proved the third-steepest decrease the index has seen in a single trading event since June.

The index dropped to its lowest point since August 2024, after the event saw 38,612t of dairy goods traded.

The average price paid for all categories of products traded declined on the previous auction held two weeks ago.

The average of €5,075/t paid for butter represented the largest fall of any commodity traded at 7.6% of a decrease.

Powders

Prices paid for whole milk powder – which accounts for around half of the tonnage usually traded at the GDT – declined by 1.9% to €2,977/t.

Anhydrous milk fat fell by 5% since the last auction to average €5,642/t, cheddar slumped 2.7% to trade at an average of €3,732/t and skimmed milk powder came back 0.6% to €2,192/t.

Any dairy co-ops that have set a price for October's milk have announced price cuts. Lakeland Dairies, Dairygold and Arrabawn Tipperary Co-op have all set October prices so far.