Another week and another drop in prices for dairy products. This time, the price drops are coming from the Global Dairy Trade (GDT), which saw a decline in the index of 1.6%.

The major product categories all took a drop, including whole milk powder (WMP), which fell by a substantial 2.3%. The GDT WMP is now back 22% on where it was back in January and currently sits at €3,165/t.

This is well behind the European price for this week of €3,715/t, which has gained €15/t on last week.

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The other big drops at the GDT were for skim milk powder (SMP) and butter, which fell by 0.5% and 3% respectively.

As SMP makes up such a big part of the auction, the relatively small price change has a big bearing on the overall index direction.

GDT skim is now €2,226/t which is a over €70/t ahead of the European price, according to our data source DCA Market Intelligence.

In Europe, prices steadied a bit compared to recent weeks, with butter actually increasing in price by €50/t, WMP increasing by €15/t and SMP remaining unchanged while cheese did take drop of €15/t.

Farmers and processors will be happy to see the markets stabilise, even if that has happened at a much lower level than they were at.

For last week and this week, prices remain more or less unchanged. One of the big food trade events, Anuga is on in Germany this week and there was some hope that positivity at that event could reignite the dairy market.

Meanwhile, the Ornua PPI has fallen to 145.7, the lowest since August 2024.