Australian exports rose in 35.7% YOY in October, in milk solids equivalent terms (MSE), increasing YOY each month since December2023, led by cheese, milk powders and fats.

Cheese exports rose 14.2% YOY to a 4-month high in October, mostly reflecting stronger sales to SE Asia. October SMP exports were up 54.6% YOY while WMP increased 238.8% YOY on small volumes. Fat exports rose 278.7% YOY in October in commercial butter equivalents – AMF was up 75.5% YOY and butter increased almost 5-fold YOY to a 8-year high.