The Global Dairy Trade Price Index fell 4.9% in the two weeks ending July 7, 2026, following a 2.8% decline in the prior period, marking the third straight weekly drop and the steepest since July 2024.

The decrease was led by sharp falls in cheddar (-12.3%), skim milk powder (-7.0%), butter (-5.0%), whole milk powder (-4.4%), anhydrous milk fat (-3.9%), and lactose (-3.6%).

Meanwhile, buttermilk powder rose 8.2% and mozzarella gained 3.8%.