Global dairy prices rise 3% at GDT auction

The overall dairy price index increased by 3% at the latest Global Dairy Trade (GDT) auction held on November 3, 2026. The weighted average price reached $4,166/t. A total of 39.8 thsd tons of dairy products were sold, with 166 participants taking part in the auction. Despite the overall increase in the index, price movements varied across individual product categories.

Cheddar cheese recorded the strongest increase, with prices rising by 8.6% to $3,970/t. Whole milk powder (WMP) gained 5.9% to reach $3,971/t, while mozzarella prices increased by 5.8% to $4,104/t. Higher prices for these products were among the main drivers of the overall rise in the GDT price index.

Skim milk powder (SMP) and lactose also posted gains. SMP prices increased by 3.1% to $4,109/t, while lactose rose by 3.3% to $1,728/t. As a result, most dairy product categories traded at the auction finished with higher prices.

Meanwhile, prices declined in the dairy fats segment. Butter recorded the sharpest decrease, falling by 4.7% to $4,503/t. Buttermilk powder prices dropped by 4.4% to $4,312/t, while anhydrous milk fat (AMF) declined by 3.2% to $5,306/t. Thus, rising cheese and milk powder prices contrasted with weaker quotations for certain dairy fats.

The November 3 auction showed an overall positive trend in global dairy prices, although significant differences remained between product categories. Future price movements will depend on demand from importers and supply from major dairy-exporting countries. The next Global Dairy Trade auction is scheduled for November 17, 2026.

Tags: global market, dairy products