The Global Dairy Trade price index fell by 3.5% during the latest auction, continuing its downward trend.
Prices have been falling since May, with this auction’s selling price at $2,727 per tonne.
It represents the seventh consecutive month where the average price index has fallen, ever since it reported a flat growth in August.
This event reported the biggest drop in the GDT price index since 21 August.
That was preceded by 4 months of consecutive decreases.
Cheddar and Lactose saw their prices increase somewhat, by 0.2% and 1.1% respectively to $3,252 per tonne and $920 per tonne.
Butter fell by 9.6% to $3,637 per tonne, Skim Milk Powder fell by 1.6% to $1965 per tonne and Whole Milk Powder fell by 1.8% to $2,599 per tonne.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.