Overall Market Tone Remains Bearish
- ZISK
- 23 hours ago
- 1 min read
The T.C. Jacoby Weekly Market Report Week Ending October 24, 2025
Dairy markets both in the U.S. and across the globe continue to feel out the balance of supply and demand. Although the dramatic price decreases seen during the last few weeks have given way to more modest movements, the overall market tone remains bearish. Tuesday’s Global Dairy Trade (GDT) auction, albeit glitchy, ultimately saw the GDT Price Index move down 1.4%, the fifth consecutive lower result. The decline in the index reflected lower prices across every product except anhydrous milkfat.
Plentiful milk supplies are the key factor weighing on international dairy prices as volumes across the major suppliers continue to charge upward. Volumes are soaring in the Southern Hemisphere as the region traverses its seasonal peak. Producers in New Zealand saw September production grow by 2.5% and 3.4% on a fluid and solids basis, respectively, further adding to an already robust season. Meanwhile, Argentina posted a 9.9% increase in fluid terms while Uruguayan volumes rose 3.2% in liquid terms and 5% on a solids basis.
October 27, 2025
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