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The Global Dairy Trade price index rose 3%, its biggest gain since February, led by whole milk powder up 5.9% and cheddar up 8.6%. China bought 59% of the offering, lifting skim milk powder to its highest since June 2022, while butter and anhydrous milk fat fell.
Stronger powder and cheese prices support New Zealand farmgate forecasts near NZ$10/kg milksolids and encourage processors to hedge. Milkfat remains in surplus across major exporters, which caps butter gains.
farmersweekly.co.nzHugh StringlemanNov 3, 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.
