Pulse 113 · 28 Jul 2026
GlobalDairyTrade
+0.6%
GDT Pulse
The small auction on the Tuesdays between the events. A short list of products, a few thousand tonnes, a handful of rounds in a quarter of an hour. It settles nothing — it tells you whether the last event still holds.
+$ 22+€ 31 since 14 Jul 2026
Against the Pulse of 14 Jul 2026. Average $ 3,884€ 3,417 per tonne.
- average price
- $ 3,884€ 3,417
- quantity sold
- 3,169 mt
- winning bidders
- 33
- duration
- 0:13
The week after 21 Jul 2026
Like for like: the same contract month, the same origin, one week apart. Pulse trades one contract period, so the event price here is that same period rather than the event's blended average — comparing against the blend would measure the change in the contract mix as much as the change in price, and on AMF it reverses the sign.
Skim Milk Powder
NZ · Sep26Event$ 3,212€ 2,813Pulse$ 3,160€ 2,780−1.6%Skim Milk Powder
EU · Sep26Event$ 3,165€ 2,772Pulse$ 3,125€ 2,749−1.3%Butter
NZ · Sep26Event$ 5,375€ 4,707Pulse$ 5,265€ 4,632−2.0%Anhydrous Milkfat
NZ/AU · Sep26Event$ 6,589€ 5,771Pulse$ 6,475€ 5,696−1.7%Whole Milk Powder
NZ · Sep26Event$ 3,476€ 3,044Pulse$ 3,446€ 3,032−0.9%
Every Pulse since 9 Aug 2022
112 auctions, volume-weighted from GDT's own published prices. Euros are converted at the ECB rate of each auction's own day.
- 28 Jul 2026
- USD$3,884
Every product
Change is measured against the previous Pulse, not against the event.
Skim Milk Powder
▲ 0.9%$ 3,150€ 2,771/ mt
+$ 28+€ 33
- NZFonterraMedium Heat$ 3,160€ 2,780
- EUArlaMedium Heat Regular$ 3,125€ 2,749
79 auctions of history
Butter
▼ 0.9%$ 5,265€ 4,632/ mt
−$ 50−€ 28
- NZFonterraUnsalted 25kg$ 5,265€ 4,632
13 auctions of history
Anhydrous Milkfat
▲ 5.1%$ 6,534€ 5,748/ mt
+$ 320+€ 299
- NZ/AUFonterraRegular 210kg drum$ 6,475€ 5,696
- NZFonterraPremium 210kg drum$ 6,545€ 5,758
13 auctions of history
Whole Milk Powder
▲ 0.3%$ 3,446€ 3,032/ mt
+$ 10+€ 20
- NZFonterraInstant, Regular$ 3,446€ 3,032
112 auctions of history
How Pulse works
- supply offered
- 3,200 mt
- sold of supply
- 99%
- qualified bidders
- 604
- bidders present
- 62
- rounds
- 8
A thin auction is a signal, not a settlement. Pulse moves a few thousand tonnes against the tens of thousands an event clears, it prices a short list of products rather than the whole board, and it sells one contract period from one or two sellers. Read it as the market's temperature between events — useful precisely because it arrives a week early, not because it is the price.
Next PulsePulse 11411 Aug 2026 · 12:00 UTC
Back to the auction results