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Global Dairy Trade Event 399 on 3 March lifted the price index 5.7 percent, with an average of USD 4,301 per tonne, the fifth straight auction gain. Skim milk powder rose 9.1 percent, butter 6.1 percent, and mozzarella 7.9 percent, while lactose and buttermilk powder were softer.
Oceania offer volumes fell as seasonal milk peaks passed.
Reduced Oceania powder offers and broad-based buying from Asia and elsewhere support dairy ingredient prices. The rebound follows a 2025 glut, so the recovery may remain fragile.
dairynews7x7.comDairy News 7x7 Editorial TeamMar 4, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
The GDT 399 results (index +5.7%, SMP +9.1%, butter +6.1%, mozzarella +7.9%) show broad global product strength and seasonal supply decline, supporting upward pressure on US milk futures.
GDT Event 399 reported the same broad price gains, with SMP up 9.1% and butter up 6.1% amid falling Oceania offer volumes, which tightened supply expectations and supported US dairy futures.
