Global Dairy Prices Rebound 1.5% in Early May

The Global Dairy Trade Price Index rose 1.5% to $4,127 per tonne in the two weeks ending May 5, 2026, snapping two straight declines. Gains were led by buttermilk powder (+9.0%), mozzarella (+4.7%), and lactose (+3.7%), while cheddar (-3.6%) and butter (-2.6%) prices fell.

The Global Dairy Trade Price Index fell 2.7% to $4,143 per tonne in the two weeks ending April 21, 2026, extending a 3.4% drop from the prior period. Sharp declines were seen in anhydrous milk fat (-9.6%), butter (-7.9%), mozzarella (-3.1%), and whole milk powder (-0.6%). However, lactose (+7.2%), skim milk powder (+3.2%), and cheddar (+1.1%) posted gains, offering some resilience amid the broader downturn.

The Global Dairy Trade Price Index dropped 3.4% in the two weeks ending April 7, ending a six-auction streak of gains, with the average selling price at $4,228 per tonne. At the latest auction, 16,497 tonnes of dairy products changed hands. The decline was led by butter (-8.1%), anhydrous milk fat (-7.1%), and mozzarella (-6.2%), while smaller falls were seen in cheddar (-3.1%), milk powder (-1.6%), whole milk powder (-0.7%), and lactose (-0.6%). Gains in buttermilk powder (0.7%) partly offset the overall decrease. At the previous auction on March 17, the index had risen slightly by 0.1%.