The Global Dairy Trade (GDT) price index has fallen again following the latest trading event which took place earlier today (Tuesday, June 17).

The index has declined by 1% to figure sits at 1,299, marking its third consecutive decrease.

The GDT price index last recorded an increase (4.6%) following the trading event held on May 6.

During today's auction there was a total of 15,209MT of dairy products sold, with an average price of $4,389/MT.

The event, which lasted for almost three hours across 20 bidding rounds, saw 110 winning bidders out of a total of 172.

Looking more closely at the results, the weighted average prices for cheddar and butter increased on the previous action.

The price of cheddar jumped by 5.1% to $4,992, while there was a 1.4% increase in butter to $7,890.

However, average prices across lactose, mozzarella, anhydrous milk fat, skim milk powder (SMP) and whole milk powder (WMP) all dropped.

The price of lactose was back by 3.6% to $1,323, WMP dropped by 2.1% to $4,084 and SMP was down 1.3% to $2,775.

Anhydrous milk fat was down by 1.3% to $7,276 and the price of mozzarella decreased 1.9% to $4,802.

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

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