Ag Smarter - GDT Review: GDT Falls Again: Fat Markets Slide as Powder’s Wide Gap Remains

Global Dairy Trade prices dropped 2.7% in the latest auction, marking a second consecutive decline. While cheese held relatively steady and skim milk powder posted modest gains, sharp losses in butter and AMF weighed heavily on the market. A major story continues to unfold in powder markets. US nonfat dry milk remains significantly elevated compared to global prices, raising questions about when and how convergence will occur. Meanwhile, shifting regional demand, low auction volumes, and rising global milk supply—especially out of Europe and New Zealand—are shaping near-term price direction. Cody Koster and John Spainhour break down the latest GDT results, regional buying trends, and what to watch as global dairy markets search for balance._Disclaimer: TRADING FUTURES AND OPTIONS ON FUTURES INVOLVES SIGNIFICANT RISK OF LOSS AND MAY NOT BE SUITABLE FOR EVERYONE. THEREFORE, CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST RESULTS ARE NOT INDICATIVE OF FUTURE RESULTS. THE INFORMATION AND COMMENTS CONTAINED HEREIN ARE PROVIDED BY EVER.AG AS GENERAL COMMENTARY OF MARKET CONDITIONS. THIS INFORMATION SHOULD NOT BE INTERPRETED AS TRADING ADVICE OR RECOMMENDATION WITHOUT FURTHER DISCUSSION WITH YOUR EVER.AG ADVISOR. THIS IS A MATTER OF SOLICITATION.EVER.AG INSURANCE SERVICES IS A LICENSED INSURANCE AGENCY AND AN AFFILIATE OF EVER.AG. INFORMATION CONTAINED HEREIN IN THIS WEBSITE IS COMPILED FOR THE CONVENIENCE OF THE USER. INFORMATION IS OBTAINED FROM SOURCES BELIEVED TO BE RELIABLE AND IS FURNISHED WITHOUT RESPONSIBILITY FOR ACCURACY OR CONTENT. MARKET DATA IS SUBJECT TO CHANGE AT ANY TIME. Ever.Ag is a licensed insurance agency in the following states: AZ, CA, CO, CT, FL, GA, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MO, MT, NE, NV, NH, NM, NY, NC, ND, OK, OH, OR, PA, RI, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY.--The following music was used for this media project:Music: Funky Intro 29 by TaigaSoundProdFree download: https://filmmusic.io/song/9520-funky-intro-29License (CC BY 4.0): https://filmmusic.io/standard-licenseArtist website: https://linktr.ee/taigasoundprod© Ever.Ag 2026, confidential and proprietary.