Global Dairy Prices Hold Steady Amid Tariff Concerns

Global dairy prices remained stable despite concerns over potential tariffs. The Global Dairy Trade (GDT) Index closed unchanged at an average of US$4,245 (NZ$7,295) per metric tonne, marking the first time since November 2023 that it showed no movement. Fonterra (NZX: FCG), a key player in the industry, saw whole milk powder (WMP)—which heavily influences its farmgate milk price—rise marginally by 0.2% to US$4,052/MT. Meanwhile, skim milk powder (SMP), the second most significant factor in pricing, declined 0.4% to US$2,XXX/MT. The steady pricing comes despite global market uncertainties, reinforcing the resilience of dairy demand.

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