Global Dairy Trade Index Continues to Slide for Second Time
The Global Dairy Trade (GDT) index, a key barometer for international dairy prices, has marked its second consecutive decline with a 1.6% drop, setting the average price at €3,794 per metric tonne (mt). The current index stands at 1,311. Of the last 12 GDT auction events since December 17, the index has declined six times, increased five times, and remained unchanged once. In the most recent auction, 166 bidders participated, resulting in sales of 16,307mt of product over two hours and 14 minutes.
Significant fluctuations were seen in the product sub-indices. Butter milk powder (BMP) experienced the largest decline at 6.1%, averaging €2,482/mt. Cheddar also saw a decrease of 4.2%, with a price of €4,167/mt. Whole milk powder (WMP) fell by 3.7% to €3,654/mt, and lactose decreased by 2% to €1,201/mt. Skim milk powder (SMP) showed a 1.1% decrease, priced at €2,458/mt.
Conversely, some sub-indices showed growth. Anhydrous milk fat (AMF) rose by 1.4%, reaching €6,457/mt, and mozzarella increased by 2.3%, priced at €4,288/mt. Butter remained unchanged with an average price of €6,840/mt.
In related financial developments, New Zealand agri-business Fonterra, a major player in dairy auctions, announced a Q3 after-tax profit of NZ$1.158 billion, marking an 11% increase compared to last year. Fonterra adjusted its year-end earnings forecast to 65-75 cents per share, reflecting confidence in stable market demand, and confirmed a forecast farmgate milk price of $10.00 per kg of milk solids (MS) for the 2025/26 season.
