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The Global Dairy Trade Price Index fell 2.7% to $4,143 per tonne in the two weeks to April 21, 2026, deepening the 3.4% decline recorded in the previous auction period. The downturn was led by sharp price drops in anhydrous milk fat (-9.6%), butter (-7.9%), mozzarella (-3.1%), and whole milk powder (-0.6%). In contrast, lactose (+7.2%), skim milk powder (+3.2%), and cheddar (+1.1%) registered price gains, partially offsetting weakness in the broader dairy complex.
