The 393rd edition of the Global Dairy Trade sent a clear message to the international market: volatility is back.
The GDT Price Index fell -4.3%, reversing the stability observed in previous events and raising new questions about global demand as we close out 2025. With an average winning price of USD 3,507 per metric ton, the event reflected downward pressure across several product categories.
Event 393 gathered 146 participating bidders, with 117 winning bidders, showing solid activity but with more cautious bidding behavior. There were 22 bidding rounds over 2 hours and 15 minutes, indicating an intense but less aggressive pace compared to earlier events. This trend may be linked to softer Asian demand and inventory adjustments in key markets.
Regarding volumes, the minimum supply stood at 33,466 MT, with a maximum of 40,668 MT, and a total of 34,282 MT was finally sold. The balance between supply and demand showed a stable market, but buyers were less willing to maintain high prices, pushing values downward.
These results open several short-term questions: is this just a year-end adjustment, or the beginning of a more persistent downward phase? What’s clear is that GDT 393 sends a message of caution to exporters, processors, and analysts closely following global dairy trade trends.
