The average Global Dairy Trade (GDT) price index decreased by 0.3% following the latest auction today (Tuesday, August 19).

There were a total of 160 bidders in the event which saw 36,553 metric tonnes (MT) of product sold.

The average selling price was €3,676/MT in the auction, which lasted for just over two and a half hours during which there were 126 winning bidders and 18 bidding rounds.

The GDT price index now stands at 1,264 – down from the previous index figure of 1,268 on August 5, and a 2025 high of 1,344 on May 6.

The May 6 figure was the highest GDT index since June 2022.

The GDT auction, which is held twice in every month, is a trading platform for core dairy products.

GDT is owned and managed as a strategic partnership between the European Energy Exchange, Fonterra Cooperative Group, and New Zealand’s Exchange.

In the graphic (below) the shaded dials indicate the proportion of each product group sold versus total quantity sold during the previous 12 months, with a three-month lag.

Figures within the dials represent the percentage change in GDT price index and the weighted average price.

There was a mix of results across products.

The largest decrease was noted for mozzarella, which dropped 2.7%, reflecting an average price of €3,810/MT.

Skim milk powder saw an index decrease of 1.8%, for an average price of €2,361/MT, while butter declined 1% for €6,120/MT, and cheddar by 0.5% for an average price of €3,896/MT.

Whole milk powder saw an index increase of 0.3%, for an average price of €3,458, and anhydrous milk fat increased by 0.1%, reflecting an average price of €6,064/MT.