The Global Dairy Trade (GDT) index continues its downward trajectory, with a 4.3% drop at the latest auction on Tuesday 2 December.

The index, based off the GDT fortnightly event, has not risen since early August this year.

Prices paid for butter saw the largest percentage decrease of any product traded at the auction, back 12.4% to €4,439/t.

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Whole milk powder (WMP), which makes up on average half of the product traded at the GDT events, dropped in price by 2.4% to €2,889/t.

Accounting usually for one-quarter of product traded, skim milk powder (SMP) fell by 1.6% to €2,145/t.

Anhydrous milk fat also fell in price, decreasing by 9.8% to €5,068/t.

Mozzarella dropped by 1% to €2,732/t, while the other cheese offered at the auction, cheddar, increased. It was up 7.2% to €3,984/t.

The price paid for butter milk powder rose by 1.8% to €2,493/t; as did lactose, up 4.2% to €1,073/t.