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Mozzarella a bright spot on lower Global Dairy Trade
After nine consecutive declines, the price of mozzarella on the Global Dairy Trade is finally rising again. However, this is the only bright spot at the first auction in November, as cheddar, butter, and whole milk powder are seeing further reductions.
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This means the weak sentiment on the global dairy market will continue for the time being. The average price fell by $2,4 to $3.768 per tonne. Cheddar, the main driver of the weakness, fell 6,6% to $4.449 per tonne, reaching its lowest level since September of last year. However, the downward pressure appears to be easing somewhat in the longer term, as the 2026 delivery contracts are in line with those in December. Mozzarella, after months of decline, is rising again, by 1,6% to $3.306 per tonne.
The GDT price for butter fell 4,3% to $6.371 per tonne, the lowest level since January 2024. European suppliers, such as the Belgian company Solarec, are driving down the butter price. Butter sold for $5.780 per tonne. The 1,9% drop to $6.887 per tonne for AMF is considerably more moderate.
The price of skimmed milk powder remains stable at $2.559 per tonne. Whole milk powder, however, saw a further decline of 2,7% to $3.503 per tonne.
The traded volume shows a slight decline and has fallen below 40.000 tonnes again after two auctions.