# Global Dairy Trade Event 415: WMP, SMP, Cheese Up; Butter, AMF Down - News and Statistics - IndexBox

> USDA Agricultural Marketing Service reported Global Dairy Trade event 415 results, covering contracts from December 2026 to May 2027. Whole milk powder averaged $3,971/t, up 5.9%, and skim milk powder averaged $4,109/t, up 3.1%, while cheddar rose 8.6% and butter declined.

- Date: 2026-11-03 · published 2026-11-03T18:08:10.273Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/78087-global-dairy-trade-event-415-wmp-smp-cheese-up-butter-amf-down-news-and
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Higher milk powder and cheese contract prices signal firmer forward dairy demand, a mild support for dairy-based feed ingredients. Butter weakness limits the upside for fat-related products.

## Read by commodity

- MILK: bullish ▲

## Sources

- indexbox.io: https://www.indexbox.io/blog/global-dairy-trade-prices-mixed-in-early-november-2026-auction/

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