Butter milk powder (BMP) fell the most in value at the latest Global Dairy Trade (GDT) auction in New Zealand, with a 7.5% drop taking the average price to $3,810 (€3,110.69).

Butter dropped to $3,810 (€3,829.17), leaving it down 5.4% compared with the last GDT.

Half a percentage point was taken off the value of whole milk powder (WMP), with average prices coming in at $4,062 (€3,316.44).

Skimmed milk powder (SMP) came down to a price of $3,412 (€2,788.19), a 0.5% reduction in value.

Cheddar was the only index to rise since the last GDT, with a modest 0.5% increase taking the average price to $4,324 (€3,530.35).

Anhydrous milk fat was valued at $5,654 (€4,616.24), a 0.8% drop, while lactose fell 1.6% to $1,236 (€1,009.14).