Butter prices in Germany have remained steady despite a significant drop in dairy product prices from New Zealand at the latest Global Dairy Trade (GDT) auction.

The average price of butter fell by 4.7% to 6,357 euros per tonne, compared to the previous auction where prices exceeded 6,662 euros.

In Germany, block butter was priced at EUR 8.10 to 8.20 per kilogram on the South German Butter and Cheese Exchange in Kempten, while contract-bound packet butter remained unchanged at 8.50 to 8.80 euros per kilogram for the seventh consecutive week.

Skimmed milk powder prices experienced a slight decline, with feed-grade skimmed milk powder priced at 2.38 to 2.43 euros per kilogram and food-grade skimmed milk powder priced at 2.60 to 2.75 euros per kilogram.

Whole milk powder from New Zealand saw a price increase of 4.6% to 3,792 euros per tonne, although prices for this product slightly decreased in Germany, with a kilogram priced at 4.39 euros at the lower end and 4.48 euros at the upper end of the range.