Pulse event 110, 23rd June 2026

Pulse event 110, the second auction of the 2026/2027 milk season, was marked by weaker results vs the previous GDT event and vs the previous Pulse event. The exceptions is SMP from Arla. The biggest losses were seen in butter fats, followed by SMP. Against the previous Pulse event NZ WMP regular decreased by -1,55% and moved down by -1,41% against the C2 on GDT event 406. 1.180 mt were sold. WMP Instant moved down by -1,51% vs the previous Pulse event and moved down by -1,37% against the C2 on GDT event 406.338 mt were sold. SMP MH from NZ was down by -2,12% vs the previous Pulse event and moved down by -4,59% vs the C2 on GDT event 406.690 mt were sold. SMP from ARLA settled UP by +0,64% vs the previous Pulse event and moved up by +1,44% vs the C2 on GDT event 406, with 125 mt sold. Unsalted Butter was npt sold on this event, with 138 mt on offer. AMF Regular was down by -4,35% vs the previous event and -5,92% vs the C2 on GDT event 406. 225 mt were sold. AMF Premium was down by -4,31% vs the previous Pulse event and down by -5,93% vs the GDT event 406. 37 were sold. Pulse events in 2026 event 98 99 100 101 102 103 104 105 106 107 108 109 110 ∆% SMP Medium Heat 2660 2790 2990 3050 3330 3310 3240 3400 3460 3585 3415 3295 3225 -2,12% vs previous Pulse event mt sold 657 750 673 725 658 750 665 471 457 697 692 692 690 -4,59% vs C2 in GDT event 406 SMP MH Arla 2485 2715 2745 2945 3035 3250 3170 3125 3375 3380 3270 3140 3160 0,64% vs previous Pulse event mt sold 201 300 251 222 225 300 125 200 100 148 300 150 125 1,44% vs C2 in GDT event 406 WMP Instant 3490 3510 3700 3750 3830 3705 3630 3695 3760 3840 3790 3650 3595 -1,51% vs previous Pulse event mt sold 842 425 384 283 420 157 264 336 48 359 413 325 338 -1,37% vs C2 in GDT event 406 WMP Regular 3395 3415 3605 3655 3715 3595 3535 3600 3650 3745 3695 3555 3500 -1,55% vs previous Pulse event mt sold 658 1067 1116 1217 1080 1343 1177 1164 1452 1141 1072 1081 1180 -1,41% vs C2 in GDT event 406 Unsalted Butter * * 6165 6615 6895 6685 6420 5950 5720 5595 5780 5700 n.p. n.p. vs previous Pulse event mt sold * * 285 278 300 300 271 300 294 277 282 300 138 n.p. vs C2 in GDT event 406 AMF regular (NZ/AUS) * * 6330 6640 6935 7275 n.p. 6865 6045 6185 n.p. 6315 6040 -4,35% vs previous Pulse event mt sold * * 86 42 129 63 73 32 67 0 126 225 -5,92% vs C2 in GDT event 406 AMF Premium * * 6400 6710 7005 7345 n.p. 6935 6080 6255 6200 6385 6110 -4,31% vs previous Pulse event mt sold * * 288 356 233 319 325 368 330 374 271 375 -5,93% vs C2 in GDT event 406 If the Pulse event results are indicative for the next GDT event (scheduled for 7th July), the outlook for that is bleak.