The GDT price index fell by 1.1% at the night trading session.

At the Global Dairy Trade auction held overnight, the price index decreased by 1.1%, erasing part of the gains recorded at the previous trading session. Two weeks ago at the previous auction, an increase of 0.1% was observed, driven by high demand for proteins against the backdrop of a seasonal increase in supply volumes.

Whole milk powder, which has the greatest impact on Fonterra's farmgate milk prices, fell in price by 0.8% and now costs US$3565 per metric tonne. Skimmed milk powder added 0.1%, reaching US$3689 per metric tonne. The most significant changes occurred in the quotes for butter, which dropped by 5.7% to US$4760 per metric tonne, as well as mozzarella, which decreased in price by 6% to US$3992 per metric tonne. Anhydrous milk fat decreased in price by 3% (US$5739/MT), buttermilk by 0.5% (US$4549/MT), lactose by 4.3% (US$1794/MT), while cheddar demonstrated an increase of 16.5%.

During the 18 rounds of trading, 155 bidders distributed 42,444 tonnes of products among 126 winning participants. In addition, on July 13, Fonterra adjusted its milk price forecast for the 2026/27 season, setting it at $9.25/kgMS with a range of $8 to $10.50 (the May starting forecast was $9.75/kgMS in the range of $8–$11). For the 2025/26 season, which ended on May 31, the cooperative narrowed the forecast range to $9.60–$9.80 per kgMS with an unchanged average value of $9.70/kgMS.