Event 412 broke the recent winning streak. The headline call was wrong — but underneath it, dairy markets are becoming more divided. Dear Dairy, Sometimes the useful part of a forecast is getting it right. Sometimes it is understanding why it was wrong. Ahead of GDT Event 412, 35 people voted in the Dear Dairy poll: 34% expected a rise above 2.5% 54% expected a rise between 0% and 2.5% 11% expected a decline between 0% and 2.5% 0% expected a decline greater than 2.5% That mea

86% of Dear Dairy respondents expected the market to rise. GDT Event 411 delivered another positive result, but strong powders and weak fats and cheese are creating a much more complicated picture for Q4. Global dairy markets entered September with another positive GDT result. Global Dairy Trade Event 411 finished 0.9% higher, extending the current sequence to four consecutive positive full Trading Events. The average winning price reached USD 3,910 per metric tonne, with app