The average Global Dairy Trade (GDT) price index decreased by 4.3% following the latest auction today (Tuesday, September 2).

There was a total of 154 bidders in the event which saw 41,465 metric tonnes (MT) of product sold.

The average selling price was €3,451/MT in the auction, which lasted for just over two and a half hours during which there were 113 winning bidders and 19 bidding rounds.

The GDT price index now stands at 1,209 – down from the previous index figure of 1,264 on August 19, 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.

The largest decrease was noted for butter milk powder, which dropped 6.3%, reflecting an average price of €2,448/MT.

Skim milk powder saw an index decrease of 5.8%, for an average price of €2,236/MT, while whole milk powder declined by 5.3%, reflecting an average price of €3,251/MT.

Mozzarella dropped by 4.6%, for an average price of €3,623/MT, and butter declined by 2.5%, reflecting an average price of €5,949/MT.

Cheddar saw an index increase of 3.6%, reflecting an average price of €4,020/MT.