Australian dairy exports increased 6.4% YOY in milk solid equivalent (MSE) terms in August. It was the first monthly increase in MSE shipments since Apr-25, with the 3months to August still –7.4% YOY.

Cheese exports increased 2.9% for the month, with increased shipments to China & HK, SE Asia, Sth Korea and North America offsetting lower trade with Japan. SMP exports were up 5.9% for the month, with increased shipments to China & HK and SE Asia. WMP was +72.5% on low volumes. There were also increased shipments for dry whey, infant formula and WPC80 in August.

In contrast, butterfat exports were down 47.7% YOY in commercial butterfat equivalents against a strong prior year comparative. AMF was –34% for the month while butter was –50.6%.