The Global Dairy Trade (GDT) Price Index rose 1.5% to an average of $3,615 per tonne in the two weeks ending January 20, 2026, building on a 6.3% increase in the previous period. This marked a second consecutive rise, driven primarily by higher prices for anhydrous milk fat (+3.0%), skim milk powder (+2.2%), butter (+2.1%), and whole milk powder (+1.0%). In contrast, prices declined for Mozzarella (-2.3%), lactose (-1.8%), and cheddar (-1.4%).