The latest Global Dairy Trade (GDT) auction revealed mixed results, with the overall GDT price index recording a modest increase of 0.4%, driven primarily by gains in milk fats and cheddar, while milk powders continued their downward trend.

Milk Powders
Milk powders exhibited a continuous decline. Whole milk powder (WMP) fell by 1.6% to an average price of US$3,142 per metric tonne (t). The decline was observed across most contract periods, except for C3, which saw a minor rise of 0.9%. Skim milk powder (SMP) also decreased, slipping by 1.1% to US$2,566/t, with all contract periods except C3 experiencing drops.

  • WMP: Down 1.6% to US$3,142/t
  • SMP: Down 1.1% to US$2,566/t


Cream Group
Contrarily, the cream group saw significant increases, with anhydrous milk fat (AMF) prices increased by 4.0% to US$6,764/t. The highest rise was recorded for the C1 contract, which jumped 9.6%. Butter prices increased marginally by 0.8% to US$6,608/t, with notable gains for the C1 contract at 10.7%.

  • AMF: Up 4.0% to US$6,764/t
  • Butter: Up 0.8% to US$6,608/t


Other Dairy Products
Cheddar prices rebounded strongly, increasing by 6.2% to US$4,217/t. All contract periods saw price increases, particularly C4, which rose by 10.1%. However, lactose and mozzarella saw slight declines, with prices easing by 0.6% and 0.8%, respectively.

  • Cheddar: Up 6.2% to US$4,217/t
  • Lactose: Down 0.6% to US$792/t
  • Mozzarella: Down 0.8% to US$4,225/t


Regional Buying Activity
Southeast Asia/Oceania remained the top buyer, securing 41% of the total product volume, especially for WMP and SMP. North Asia led in butter purchases, while South/Central America and the Middle East were prominent buyers of AMF and cheddar, respectively.

In total, 22,954 metric tonnes of dairy products were sold, marking a 5% decrease from the previous event and a 12% drop compared to the same event last year.


Our independent pricing benchmark, the Vesper Price Index (VPI), will be published today. Released every Wednesday, it features new prices gathered from buyers, sellers, traders, and brokers, ensuring a comprehensive market view by excluding outliers. Check out how the GDT event’s impact has influenced our price index. Download it for free.