The Global Dairy Trade auction saw a fall in the overall price indices of 3 per cent, but dairy industry watchers suggest that might not be a bad thing.
All the commodities at the auction fell in price, except butter milk powder which rose by 9.3 per cent.
The Irish Farmers Association (IFA) National Dairy Committee Chairman Sean O’Leary said the price fall was not necessarily a bad thing, as it might help avoid global dairy prices overheating.
After four bumper auctions in a row, prices fell at the latest Global Dairy Trade auction. Average prices paid at the auction fell 3.1 percent on the last event held three weeks previously which itself was up 9.9 percent.
The previous three auctions had seen double-digit increases for dairy prices. This week, key products Whole Milk Powder and Skimmed Milk Powder both fell at the latest auction down 4.6 percent and 4.5 percent respectively.