Skim milk powder prices on GDT rise to highest level since 2022

At the 19th Global Dairy Trade auction of 2026, skim milk powder (SMP) prices rose by 4.3% to $3.85 thsd/t, the highest level since June 2022. The overall GDT index increased by 1.2% to $3.928 thsd/t.

Over the past six auctions, SMP prices have climbed by 22.5%, or around $700/t. For the third consecutive auction, SMP has traded above whole milk powder, which rose by 1.2% this time to $3.60 thsd/t. The price gap between the two products reached 6.7%.

Meanwhile, dairy fats continued to weaken. Butter prices fell another 0.3% to $4.74 thsd/t. The decline has now continued for eight consecutive auctions, with butter losing 17.3%, or around $1 thsd/t, over the period. Anhydrous milk fat fell by 1.1% to $5.68 thsd/t.

The cheese segment also showed mostly negative dynamics. Cheddar declined by 3.7% to $3.93 thsd/t after jumping 16.5% at the previous auction. Mozzarella fell by 3.9% to $3.83 thsd/t.

The results point to stronger demand for milk powders and dairy proteins, while fats and cheeses remain under pressure. Sales volume at the auction reached 41.7 thsd tons, marking the fifth consecutive event with more than 41 thsd tons sold.

Tags: prices, Milk, global market, skim milk powder, GDT