Global Dairy price index showing stagnancy

The Global Dairy Trade (GDT) Event 366, held on October 15, 2024, saw mixed outcomes across dairy products. While the index hardly plummeted by 0.3% with Global dairy price index at UsD 3852/MT.. Whole Milk Powder (WMP) prices remained relatively stable with only slight fluctuations, reflecting consistent demand. However, other categories, such as Lactose and  Mozzarella cheese showed a big decline. Anhydrous milk fat and Butter almost toe the line with the change in index at 0.3% gain and loss respectively. Skimmed milk powder has again come down by 1.8% but Cheddar cheese showed a robust growth of above 4%.

This event also highlighted the ongoing global uncertainty in the dairy market, impacted by factors such as production levels, supply chain dynamics, and weather conditions in key dairy-producing regions. These trends are critical as the industry navigates global shifts in demand and competition between traditional and alternative dairy products​. Absence of China is surely visible as the trade is unable to gain momentum.

Key Results The average price/MT and index of each product. Anhydrous Milkfat Price Index +0.3% Average price per MT $7,229

Butter Price Index -0.3% Average price per MT $6,495

Cheddar Cheese Price Index +4.2% Average price per MT $4,702

Lactose Price Index -5.8% Average price per MT $895

Mozzarella Price Index -8.2% Average price per MT $4,559

Skimmilk Powders Price Index -1.8% Average price per MT $2,745

Wholemilk Powders Price Index unchanged Average price per MT $3,553