Market Updates – Domestic & Global
This page contains latest global and domestic market updates that are relevant to the value of milk in the Australian dairy industry. These also appear in separate updates on this site under Domestic Market Updates and Global Market Updates.
Powders Rise Again on GDT
The GDT Index rose 1.5% at event #403 with limited participation from China and Middle East buyers. Higher powder prices offset falling butter and cheese prices. Powder prices rose, thanks to SE Asia picking up a larger share of total volume. Fonterra C2 Regular WMP...
China’s Milk Production Continues to Decline
Chinese milk production declined 5.1% YOY in March, according to the latest China Dairy Monthly Report. This was the third consecutive monthly decrease, following increases between September and December 2025. Liquid milk consumption rose 2.6% YOY for the month,...
American Cheese Output Surprisingly Declines
US cheese production increased 1.2% YOY in March according to the USDA, on an estimated 3.0% rise in manufacturing milk availability. American cheese output surprisingly fell 2.3% YOY for the month with a 2.0% decline for cheddar, while “other cheese” varieties...
Noumi Announced Support Payment
Noumi is the latest milk processor to offer a 5c/l support payment to its suppliers across the Goulburn Valley. The temporary support payment equates to 54c/kg of butterfat and 76c/kg of protein, payable from 1 May and is the latest of processors temporary support...
Spending Picks Up in Australia
Australian household spending picked up sharply in March 2026, rising 1.6%, following smaller increases in February and January. Over the year, spending remained elevated in nominal terms, up 6.3% compared with March 2025. The main driver of March’s jump was a 5.1%...
SMP Prices Dip on Pulse
This week’s GDT Pulse event was mixed for powders, with regular and instant WMP continued to gain while SMP prices came off its previous highs. Fonterra’s regular WMP C2 price settled at US$3,650/t, US$25/t higher than the price achieved at GDT #402 and US$50/t higher...
French Milk Output Falls Below the Prior Year
In latest available data for week 16 (ending 17th of April 2026), French milk output declined 0.3% YOY on relatively strong prior year comparables and continued to fall after reaching an earlier seasonal peak in week 11. In the same week (16), UK supplies were ahead...
Sticky Inflation Persists
The Australian Bureau of Statistics’ (ABS) latest consumer price index reading rose +4.6% in the year to March, up from 3.7% in the year to February. The increase is attributed to rises in the categories housing (+6.5%), transport (+8.9%) and food and non-alcoholic...
Warmer Temps, Less Rainfall in Climate Outlook
In its latest climate outlook for the three months to July, the Australian Bureau of Meteorology predicts below average rainfall across the country’s dairy producing regions and above average temperatures for most of Australia. Oceans around Australia are warmer than...
Australian March Milk Production Lifts
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