The latest Global Dairy Trade (GDT) event has seen the price index fall by 3.6%, the largest single drop since March of this year.

The auction, which took place on 6 July 2021, achieved an average price of $3,924/t (€3,316) on the 24,278t of product sold.

The largest fall in price was for cheddar which fell by 9.2% to $3,949 (€3,337). The other major fat, butter, fell by 3.2% to $4,458 (€3,767).

On the powders front, for skim milk powder fell by 7% to $3,126 (€2,642) while whole milk powder fell by 3% to $4,864 (€4,110).

Lactose remained unchanged at $1,238 (€1,046).