# Global Dairy Quarterly - Rabobank

> Rabobank's Q1 2026 Global Dairy Quarterly says strong milk supply across major exporters continues to weigh on global dairy prices. Fat prices fell more than 40% and whole milk powder about 30% from September to February, while recent GDT auction gains are described as not yet structurally sustainable.

- Date: 2026-03-03 · published 2026-03-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/20170-global-dairy-quarterly-rabobank
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Ample global milk supply keeps export dairy prices under pressure, and a slowdown in production growth later in 2026 is the main path to recovery.

## Read by commodity

- MILK: bearish ▼

## Sources

- rabobank.com: https://www.rabobank.com/knowledge/q011332988-global-dairy-quarterly-q1-2026-a-delicate-dairy-balance-cautious-price-recovery-amid-heavy-supply

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.