The Global Dairy Trade (GDT) index has increased for the third time in a row, following the latest trading event today (Tuesday, November 3).

The index increased by 3% compared to the last index update two weeks ago, with the latest upward move reflecting an average price of €3,714/t.

The latest increase follows increases of 2.5% on October 20 and 1.2% on October 6.

Of the 12 most recent GDT trading events (including today's), going back to late May, the index increased on eight occasions and decreased on four occasions.

Those decreases included a 4.9% drop in June, the biggest movement in either direction in the GDT index in that time.

However, the index now sits at a figure of 1,243, the highest it has been since St. Patrick's Day this year.

In term of the sub-indices for individual products, there were notable movements across the board, whether they went up or down; none of the sub-indices moved by less than 3%.

Cheddar was the big winner today, with its index increasing by 8.6% for an average price of €3,540.

Whole milk powder also performed strongly, increasing by 5.9% for an average price of €3,541; as did mozzarella, which increased by 5.8% for a price of €3,659.

Lactose increased by 3.3% for a price of €1,541, while skim milk powder increased by 3.1% for a price of €3,664.

On the flip side, butter went down by 4.7% for a price of €4,015 while butter milk powder decreased by 4.4% for a price of €3,845.

Finally, the index for anhydrous milk fat decreased by 3.2% for a price of €4,731.

New Zealand milk production

In other dairy market news, New Zealand's milk production has grown by around 3.5% for the 2025/2026 season, according to the country's latest dairy statistics report.

The national dairy herd there produced 21.8 billion litres of milk last season, a 3.5% increase on the 2024/2025 season, where production totalled around 21 billion litres.

The production was achieved off 4.72 million cows, which is a 1% rise on the 2024/2025 figures.

When processed, the 21.8 billion litres of milk produced equated to 2.02 billion kilograms of milk solids, a 4.5% increase on the previous season.