The Latest: October - 2026
The Fresh Cheese Squeeze Is Over
The wild ride continued in the CME spot Cheddar market. Blocks soared in the first three weeks of October as cheese buyers scrambled to source fresh Cheddar from plants without production issues. And USDA offered more clarity on those ongoing issues, reporting in Dairy Market News, “The ongoing focus on high protein, premium whey concentrates has led some cheese manufacturers to push the cheesemaking process further than usual. This is increasing liquid whey output, resulting in more off spec cheese production.” Nonetheless, it seems that the fresh cheese squeeze is over.
View Report
Nearly every product lost ground at the CME as market participants challenged the high product prices seen in recent weeks. However, the butter markets really stole the show.
View reportAt the Global Dairy Trade (GDT) auction on Tuesday, the GDT Index jumped 4.6% to its highest price since March 2014, led by a 5.6% increase in the price of whole milk powder (WMP). GDT butter and cheese both scored all-time highs, while SMP climbed to prices not seen in nearly eight years.
View reportMarkets are swinging wildly from heart-stopping highs to stomach-churning lows and back again. But unlike thrill rides, the dairy markets are breaking new ground.
View reportPrices are high and extremely volatile as the trade assesses how long global milk output will remain depressed and whether demand will hold firm despite the rising cost of dairy.
View reportThe dairy markets are full of Christmas cheer for producers, while dairy buyers are grunting “Bah! Humbug,” into their egg nog. The milkfat market is especially festive and the whey market just keeps climbing.
View reportLower milk production abroad will make more room for U.S. dairy product exports, even if the global appetite for dairy products fades modestly.
View report