Pulse 120 · 27 Oct 2026
GlobalDairyTrade
+0.5%
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.
+$ 19+€ 30 since 13 Oct 2026
Against the Pulse of 13 Oct 2026. Average $ 4,106€ 3,683 per tonne.
- average price
- $ 4,106€ 3,683
- quantity sold
- 3,585 mt
- winning bidders
- 36
- duration
- 0:15
The week after 20 Oct 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 · Dec26Event$ 3,917€ 3,493Pulse$ 3,940€ 3,534+0.6%Skim Milk Powder
EU · Dec26Event$ 4,174€ 3,722Pulse$ 4,115€ 3,691−1.4%Whole Milk Powder
NZ · Dec26Event$ 3,737€ 3,332Pulse$ 3,793€ 3,402+1.5%Anhydrous Milkfat
NZ/AU · Dec26Event$ 5,491€ 4,896Pulse$ 5,360€ 4,807−2.4%Butter
NZ · Dec26Event$ 4,766€ 4,250Pulse$ 4,675€ 4,193−1.9%
Every Pulse since 9 Aug 2022
119 auctions, volume-weighted from GDT's own published prices. Euros are converted at the ECB rate of each auction's own day.
- 27 Oct 2026
- USD$4,106
Every product
Change is measured against the previous Pulse, not against the event.
Skim Milk Powder
▲ 1.8%$ 3,953€ 3,545/ mt
+$ 69+€ 73
- NZFonterraMedium Heat$ 3,940€ 3,534
- EUArlaMedium Heat Regular$ 4,115€ 3,691
86 auctions of history
Whole Milk Powder
▲ 2.7%$ 3,793€ 3,402/ mt
+$ 98+€ 100
- NZFonterraInstant, Regular$ 3,793€ 3,402
119 auctions of history
Anhydrous Milkfat
▼ 5.1%$ 5,384€ 4,829/ mt
−$ 291−€ 243
- NZ/AUFonterraRegular 210kg drum$ 5,360€ 4,807
- NZFonterraPremium 210kg drum$ 5,385€ 4,830
20 auctions of history
Butter
▼ 3.5%$ 4,675€ 4,193/ mt
−$ 170−€ 138
- NZFonterraUnsalted 25kg$ 4,675€ 4,193
20 auctions of history
How Pulse works
- supply offered
- 3,700 mt
- sold of supply
- 97%
- qualified bidders
- 622
- bidders present
- 55
- rounds
- 9
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 12110 Nov 2026 · 12:00 UTC
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