Dairy prices fell across the board in the latest Global Dairy Trade (GDT) auction dipping by a further 3% today (Tuesday, November 18)

There were a total of 166 bidders in the event which saw 38,612 metric ton (MT) of product sold.

The average selling price was €3,173 per metric ton in the auction, which lasted for nearly two hours, during which there were 135 winning bidders and 16 bidding rounds.

The GDT Price Index dropped to 1,102 today – down from 1,135 earlier this month, which represented the seventh fall in a row.

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

Today's worst performers were butter and anhydrous milk fat while cheddar also had a disappointing dip.

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.

GDT

The downward trend in the GDT Price Index underlines the warnings from analysts on the outlook for dairy on the global stage, including those at Rabobank who have said that "demand remains soft amid inflation and weak confidence".

Separately Susie Stannard, lead analyst dairy with the Agricultural and Horticultural Development Board (AHDB), has also cautioned that current trends suggest that "milk supplies are running too far ahead of what global demand can absorb".

Closer to home Dairygold board today was the the latest processor to cut milk price for October.

It announced that it has reduced the October 'Quoted Milk Price' by 3.25c/L to 38c/L.

This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality payments and VAT.

The co-op said that the October milk price equates to an average October farm gate milk price of 51.1c/L, based on the average October 2025 milk solids, achieved by Dairygold milk suppliers.

Other processors to announce a cut to their quotes milk price for October include Kerry Diary Ireland and Lakeland Dairies.