Global dairy demand still subdued

International dairy prices fell in the first Global Dairy Trade auction of July as demand remains subdued.

The GDT Price Index, which covers a variety of products and contract periods, dipped 0.4%, with an average selling price of $2,345 (€2,200) per tonne, in last week’s auction.

Whole milk powder — which makes up the bulk of the product sold at auction — fell by 1.6% to $2,062 (€1,863) per tonne.