Pulse 114 · 11 Aug 2026
GlobalDairyTrade
+3.8%
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.
+$ 147+€ 76 since 28 Jul 2026
Against the Pulse of 28 Jul 2026. Average $ 4,031€ 3,493 per tonne.
- average price
- $ 4,031€ 3,493
- quantity sold
- 2,985 mt
- winning bidders
- 30
- duration
- 0:17
The week after 4 Aug 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 · Oct26Event$ 3,247€ 2,820Pulse$ 3,335€ 2,890+2.7%Skim Milk Powder
EU · Oct26Event$ 3,294€ 2,861Pulse$ 3,360€ 2,912+2.0%Whole Milk Powder
NZ · Oct26Event$ 3,468€ 3,012Pulse$ 3,536€ 3,064+2.0%Anhydrous Milkfat
NZ/AU · Oct26Event$ 6,546€ 5,685Pulse$ 6,325€ 5,481−3.4%Butter
NZ · Oct26Event$ 5,245€ 4,555Pulse$ 5,230€ 4,532−0.3%
Every Pulse since 9 Aug 2022
113 auctions, volume-weighted from GDT's own published prices. Euros are converted at the ECB rate of each auction's own day.
- 11 Aug 2026
- USD$4,031
Every product
Change is measured against the previous Pulse, not against the event.
Skim Milk Powder
▲ 6.0%$ 3,339€ 2,893/ mt
+$ 189+€ 122
- NZFonterraMedium Heat$ 3,335€ 2,890
- EUArlaMedium Heat Regular$ 3,360€ 2,912
80 auctions of history
Whole Milk Powder
▲ 2.6%$ 3,536€ 3,064/ mt
+$ 90+€ 32
- NZFonterraInstant, Regular$ 3,536€ 3,064
113 auctions of history
Anhydrous Milkfat
▼ 2.9%$ 6,343€ 5,497/ mt
−$ 191−€ 252
- NZ/AUFonterraRegular 210kg drum$ 6,325€ 5,481
- NZFonterraPremium 210kg drum$ 6,345€ 5,498
14 auctions of history
Butter
▼ 0.7%$ 5,230€ 4,532/ mt
−$ 35−€ 100
- NZFonterraUnsalted 25kg$ 5,230€ 4,532
14 auctions of history
How Pulse works
- supply offered
- 3,200 mt
- sold of supply
- 93%
- qualified bidders
- 605
- bidders present
- 62
- rounds
- 10
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 11525 Aug 2026 · 12:00 UTC
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