# FAO Dairy Price Index Falls 1.1% as Butter and Cheese Slump; Sugar Surges 6.6%

> The FAO Dairy Price Index averaged 117.8 points in October 2026, down 1.1% from September and 16.9% year over year. Ample export supplies and subdued buying weakened butter and cheese prices, while skim milk powder rose on strong import demand and limited prompt supply.

- Date: 2026-11-09 · published 2026-11-09T06:08:27.184Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/88759-fao-dairy-price-index-falls-1-1-as-butter-and-cheese-slump-sugar-surges-6-6
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

High butter and cheese stocks in Europe and competitive US export offers add to dairy-fat supply pressure, while tighter powder availability and Asian demand support powders. The mixed price signals reflect different supply-demand balances across dairy products.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2025-09-12 | [USDA Lowers Most 2025, 2026 Dairy Price Forecasts; CME Butter Price Falls Below $2.00 - Cheese Reporter](https://feedsoft.ai/events/22853-usda-lowers-most-2025-2026-dairy-price-forecasts-cme-butter-price-falls-below-2.md) | +0.2% | -3.3% |
| MILK | 2026-07-11 | [Cheese production higher, milk prices lower - Dairy Star](https://feedsoft.ai/events/18337-cheese-production-higher-milk-prices-lower-dairy-star.md) | +0.4% | +7.1% |
| MILK | 2025-07-22 | [Milk Output Surges Past Expectations as Butter Prices Slide, 2025 Futures Rally on Export Strength - Dairy Herd](https://feedsoft.ai/events/23759-milk-output-surges-past-expectations-as-butter-prices-slide-2025-futures-rally.md) | -0.6% | -0.0% |
| MILK | 2025-02-27 | [U.S. Dairy Surplus Deepens: Butter Glut Hits 3-Year High as Cheese Inventories Defy Expectations \| The Bullvine](https://feedsoft.ai/events/26048-u-s-dairy-surplus-deepens-butter-glut-hits-3-year-high-as-cheese-inventories.md) | -9.7% | -8.2% |
| MILK | 2025-12-10 | [USDA Lowers 2026 Milk Production, Cheese And Butter Price Forecasts - Cheese Reporter](https://feedsoft.ai/events/21493-usda-lowers-2026-milk-production-cheese-and-butter-price-forecasts-cheese.md) | -0.8% | -6.8% |

## Sources

- dairynews7x7.com: https://dairynews7x7.com/news/fao-dairy-price-index-october

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