Ag Smarter - GDT Review: GDT Falls Again: Fat Markets Slide as Powder’s Wide Gap Remains
Global Dairy Trade prices dropped 2.7% in the latest auction, marking a second consecutive decline. While cheese held relatively steady and skim milk powder posted modest gains, sharp losses in butter and AMF weighed heavily on the market.
A major story continues to unfold in powder markets. US nonfat dry milk remains significantly elevated compared to global prices, raising questions about when and how convergence will occur. Meanwhile, shifting regional demand, low auction volumes, and rising global milk supply—especially out of Europe and New Zealand—are shaping near-term price direction.
Cody Koster and John Spainhour break down the latest GDT results, regional buying trends, and what to watch as global dairy markets search for balance.
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