milking parlour© John Eveson/FLPA / imagebroker/Rex/Shutterstock

Fonterra’s Global Dairy Trade (GDT) online auction today (Wednesday 4 November) saw overall prices drop 7.4%.

All commodities fell in price (see below), with rennet casein and butter milk powder recording the biggest drops of 11.2% and 9.4%, respectively. 

The weighted average across all commodities of US$2,569/t (£1,669/t) is the second consecutive fall and follows two months of price increases. 

GDT auction 3 November 2015 – results

Butter – index down 5.6% – weighted average selling price US$2,574/t (£1,672/t)
Cheddar – index down 4.6% – weighted average selling price US$2,987/t (£1,941/t)
Anhydrous milk fat – index down 5.7% – weighted average selling price US$3,647/t (£2,370/t)
Buttermilk powder – index down 9.4% – weighted average selling price US$1,844/t (£1,198/t)
Skim milk powder – index down 8% – weighted average selling price US$2,018/t (£1,311/t)
Whole milk powder – index down 8% – weighted average selling price US$2,453/t (£1,594/t)
Rennet casein – index down 11.2% – weighted average selling price US$5,469/t (£3,554)

The Global Dairy Trade online auction is owned by New Zealand co-op Fonterra. It holds two online auctions each month, with dairies from Europe, India, the US, New Zealand and Australia selling commodities to 650 buyers from more than 90 countries.