The Global Dairy Trade Price Index fell 2.7% to $4,143 per tonne in the two weeks ending April 21, 2026, extending a 3.4% drop from the prior period. Sharp declines were seen in anhydrous milk fat (-9.6%), butter (-7.9%), mozzarella (-3.1%), and whole milk powder (-0.6%). However, lactose (+7.2%), skim milk powder (+3.2%), and cheddar (+1.1%) posted gains, offering some resilience amid the broader downturn.