Global Dairy Prices Fall Sharply in Mid-June

The Global Dairy Trade Price Index fell 2.8% in the two weeks ending June 16, 2026, after a 0.6% drop in the prior period, marking the largest decline since April. Mozzarella led the decreases (-5.0%), followed by skim milk powder (-3.6%), cheddar (-3.4%), whole milk powder (-3.1%), butter (-2.4%), and anhydrous milk fat (-1.0%). Lactose was the sole gainer, rising 4.2%.

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.