The Global Dairy Trade (GDT) index has recorded another decline in its latest trading event today (Tuesday, June 16).

The index was back by 2.8%, for an average price of €3,428/t.

This is the second consecutive decline, which had reversed the recent upward trend.

12,922t of product was sold at today's event, with 151 bidders participating.

99 winning bidders emerged across 17 bidding rounds, with the event lasting for two hours and 46 minutes.

Products

In terms of individual product sub-indices, there was a decline in the butter index by 2.4%, for a price of €4,752/t.

Cheddar also declined, by 3.4%, for a price of €3,852/t, while mozzarella was down by 5% to €3,231/t.

Decreases were also recorded for whole milk powder (down 3.1%), skim milk powder (down 3.6%) and anhydrous milk fat (down 1%).

Prices for these products sat at €3,092/t, €2,902/t and €5,687/t respectively.

Lactose increased by 4.2% to €1,466/t.

Dairy prices stabilise in recent weeks

In other dairy news, according to a new report from Ornua, European dairy commodity prices have experienced some stability in recent weeks.

However, the Ornua Market Report for June 2026 notes there are concerns about milk supply levels and future demand.

Ornua said this suggests that currently the potential for "significant price growth" in the second half of this year remains "limited".

The report said that cheese and butter prices have stabilised, and seasonal demand may offer near-term support.

While the protein market remains positive, confidence has declined in further price rises for skim milk powder and non-fat dry milk.