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.
Pulse Powder Prices Lifts
Prices for NZ and EU milk powders rose at this week’s Pulse event. NZ regular grade WMP rose 1.0% against GDT #395 and +7.6% on the prior Pulse event, settling at US$3,395/t. Instant WMP settled at US$3,490/t, up 1.0% compared to GDT #395 and 7.4% higher than the...
EU Milk +4.5% YOY in November
We estimate EU milk production increased 4.5% YOY in November, according to Eurostat and AGEA. This includes YOY growth in France (+6.3%), Germany (+7.5%), Poland (+5.3%), Denmark (+0.7%), Austria (+9.8% YOY), Belgium (+9.7% YOY) and Sweden (+6.4%). November...
Australian Cheese, SMP Exports Soar
Total November exports increased 8% YOY in milk solids equivalent (MSE) terms. Cheese exports rose 16.9% YOY for the month to 18,020t (highest volume since December 2017), led by stronger shipments to China & HK but also with growth into Japan and SE Asia. SMP...
Consumer Sentiment Slide
Dim views on the near-term outlook are negatively affecting the Westpac-Melbourne Institute Consumer Sentiment, which fell 1.7% to 92.9 January. Concerns about what 2026 has in store for family finances and the wider economy are dragging down the index. Expectations...
Cow Culling Declined
Saleyard transactions of dairy cow culls as reported by the National Livestock Reporting Service (NLRS) increased 18% YOY for the season-to-date (July-December). December alone was -7% YOY. The saleyard average price peaked in November at 370c/kg liveweight before...
GDT Begins 2026 on a Positive Note
The first GDT event of 2026 was a positive one for all commodities. The index rose 6.3% at event #395, marking the first lift for the index since the second event in August 2025. WMP prices gained 7.8% on average as NZ CP2 values increased 7.9% to US$3,360/t. China...
China Grows November Milk Production
milk production increased 1.4% YOY in November on a low prior year comparable, according to the latest China Dairy Monthly Report. This was the third consecutive monthly increase, following consistent declines between June 2024 and August 2025. Fluid milk consumption...
Australia November Milk Output Fell
Dairy Australia (DA) reported a 2.2% YOY drop in November milk output in data released just before Christmas. For the season, milk production is trailing –2.3% behind the prior year comparable. Milk production continued to trend below the prior season in the southern...
Australian Consumer Prices Lift
Newly-released consumer price data from the Australian Bureau of Statistics shows CPI rose 3.4% on the year to November, down from +3.8% in the 12 months to October—driven by price hikes in housing (+5.2%), alcoholic beverages (+3.3%) and transportation (+2.7%)....
NZ Milk Output Hits Record HighNZ Milk
New Zealand milk production hit a record high in November, up 2.6% YOY on a milk solids basis to 252.2m kgMS, the highest monthly intake for November since 2014. Seasonal solids intake is 3.2% ahead of the prior season. On a volume basis, milk production rose +2.4%...
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