Ag Smarter - GDT Review: Global Dairy Trade Drops 3.4%: Fat Markets Slide While Global Price Gaps Widen

The latest Global Dairy Trade auction delivered a sharp 3.4% decline, led by significant weakness in butterfat and continued softness across key dairy categories. In this episode, Cody Koster and John Spainhour break down what’s driving the market—from falling fat prices and declining cheese values to a complex global pricing divide between the US, Europe and New Zealand. Skim milk powder tells a deeper story, with surprising strength in New Zealand contrasting sharply with weaker European pricing, creating a growing global imbalance. Meanwhile, China’s reduced participation and increased buying from Southeast Asia and Mexico are reshaping trade flows in real time. With geopolitical tensions impacting shipping routes and global milk production remaining strong, the market faces a critical question: can global demand keep up? Tune in for a clear, market-focused breakdown of what this GDT means now—and what to watch next. _ 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 TaigaSoundProd Free download: https://filmmusic.io/song/9520-funky-intro-29 License (CC BY 4.0): https://filmmusic.io/standard-license Artist website: https://linktr.ee/taigasoundprod © Ever.Ag 2026, confidential and proprietary.