GDT takes a tumble for third consecutive auction

Dairy prices decreased by 4.9% to an average of €3,323/t in the latest Global Dairy Trade (GDT) auction.

Whole milk powder has decreased in value by 4.4%, trading at an average price of €3,000/t at Tuesday's event.

Skim milk powder saw a decrease in value of 7% to an average of €2,746 per tonne.

Anhydrous milk fat is down 3.9% to an average price of €5,555/t.

Butter and cheddar cheese are both down, with butter taking a 5% hit to an average price of €4,674/t and cheddar back 12.3% to a value of €3,416.