The Global Dairy Trade (GDT) auction in Auckland, NZ recorded a fortnightly price drop of 4.3% on September 2, 2025 from worldwide market turmoil.
Two weeks earlier, prices at the biweekly auction had shed 0.3%, a reflection of market changes faraway from New Zealand.
The biggest losers this week were buttermilk powder by 6.3%, skim milk powder (5.8%) and whole milk powder (5.3%).
Buttermilk’s top contract was down to US$2,868 a tonne or US$1.30 a pound while skim milk powder US$2,620 a tonne.
Mozzarella, butter and anhydrous milk-fat all lost prices by 4.6%, 2.5% and 2.6%, respectively, fortnight-to-fortnight.
Cheddar was the only product to overcome the odds, by gaining 3.6% fortnightly, to US$4,709 a tonne or US$2.14 a pound.
What Happened?
It all has to do with the global situation, especially in Europe – the biggest supplier of milk worldwide.
In the last weeks of August 2025, both the UK and the European Union registered ease in dairy wholesale values.
Despite recent weakening, the UK’s dairy prices are still neutral or 5% better than they were in summer 2024. However, by early September some milk suppliers were adjusting their wholesale rates downward.
Besides, a 4.5% annual increase in milk deliveries in mid-August 2025 could ease soon because low prices will demobilize production.
Europe as a whole is looking at the recent bearish outlook in New Zealands’s GDT with worry.
What is the NZ GDT?
As a major dairy exporter, New Zealand references its GDT auction as a reliable tracker of milk rates worldwide.
Locally, exporting farmers consult the auction for the latest international prices and use it to track volatility.
The index also gives real time insights on how to adapt to frequent pricing changes in external markets worldwide.
As a reflection of its internationality, quotes in the index are in U.S. dollars, which makes it global. And as the following statistics reveal, the NZ dairy price index shows variations between auctions worthy of global note.
New Zealand’s Global Dairy Trade Price Index Statistics
The Global Dairy Trade (GDT) price benchmark operates from Auckland, New Zealand. In its run since September 15, 1915, it has changed many times in pricing performance terms. It tracks mainly milk powder and cream milk prices, which often grow volatile. For example between mid-September 2024 and early September 2025, the index recorded three sharp climbs and equivalent sharp plunges. Top increases included on November 5, 2024 by 4.8% from two weeks back and May 6, 2025 by 4.6%. Major decreases included those of December 2024 (-2.4%), July 1, 2025 (-4.1%) and September 2, 2025 (-4.3%).
Historically, the index reached its lowest point on February 16, 1916 at 638 points, per the GDT website. Its highest reach occurred on March 1, 2022 at 1,593 points. The points indicate the total number of dairy products per auction, weighed against contract pricing.
How did the index change in the course of 2025?
In 2025, the GDT prices plunged thrice and spiked once. They however remained relatively stable the rest of the year. Here is a quick run at highlights, using the Global Dairy Trade’s website data.
| Highlight Date [2025] | Index High [from 2 weeks before] | Index Low [from 2 weeks before] |
| September 2 | -4.3% | |
| July 1 | -4.1% | |
| June 3 | -1.6% | |
| July 15 | 1.1% | |
| May 6 | 4.6% |