Global Dairy Prices Rise Slightly

The Global Dairy Trade Price Index inched up 0.1% in the two weeks ending March 17, 2026, marking a slower pace after five straight periods of sharp gains. Anhydrous milk fat (+6.4%) and skim milk powder (+5.2%) led the increases, with modest gains in mozzarella (+0.5%) and cheddar (+0.1%). However, declines in whole milk powder (-4%), butter (-0.9%), and lactose (-0.3%) partially offset the overall rise.

The Global Dairy Trade Price Index climbed 5.7% to an average of $4,301 per tonne in the two weeks ending March 3, 2026, following a 3.6% rise in the previous period. The increase marked the fifth consecutive gain, driven by broad-based strength across key dairy products. Skim milk powder led the advance with a 9.1% rise, followed by mozzarella (7.9%), butter (6.1%), anhydrous milk fat (5.7%), whole milk powder (4.5%), and cheddar (4.3%). In contrast, lactose prices fell 3.9% and buttermilk edged down 0.2%, partially offsetting the overall gains.

The Global Dairy Trade Price Index rose 3.6% to an average of $4,028 per tonne in the two weeks ending February 17, 2026, building on a 6.7% increase in the prior period. The latest advance marked a fourth consecutive gain, supported by broad-based strength across key products. Butter led the rise with a 10.7% increase, followed by lactose (7.8%), mozzarella (5.0%), anhydrous milk fat (3.8%), skim milk powder (3.0%), and whole milk powder (2.5%). In contrast, cheddar prices edged down 1.0%, partially offsetting the overall gains.