Pulse Event 113 shows weaker results ahead of GDT

Pulse Event 113, the fifth auction of the 2026/27 milk season, delivered generally weaker results compared with both the previous GDT event and the previous Pulse event. Compared with the previous GDT event, SMP from Arla and Unsalted Butter declined. Compared with the previous Pulse event, only Instant WMP posted an increase.