The Global Dairy Trade Price Index rose 3.6% to an average of $4,028 per tonne in the two weeks ending February 17, 2026, building on a 6.7% increase in the prior period. The latest advance marked a fourth consecutive gain, supported by broad-based strength across key products. Butter led the rise with a 10.7% increase, followed by lactose (7.8%), mozzarella (5.0%), anhydrous milk fat (3.8%), skim milk powder (3.0%), and whole milk powder (2.5%). In contrast, cheddar prices edged down 1.0%, partially offsetting the overall gains.