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 Decline at Pulse Event
Powders eased further at this week’s Pulse event with another correction for SMP and WMP. The NZ regular WMP C2 price settled at US$3,485/t, -0.4% lower than last week’s Pulse event. Instant WMP was flat, settling at US$3,595/t. SMP prices declined. NZ Medium Heat C2...
Fonterra’s 2025-26 Record Milk Output
In its latest Global Dairy Update, Fonterra reports milk production of 1,570m kgMS in the 2025-26 season, up +4.1% on the season prior. The coop’s milk output rose 5.8% YOY to 81.5m kgMS in May, the biggest May output on record due to favourable pasture conditions. In...
Australian Milk Output Sneaks Past Prior Season
With one month to go, in terms of output data, Australia’s production has inched ahead of the past season’s output by 0.2%. May output finished +5.4% year-over-year. Victoria’s production rose +6.7% YOY for the month with increases in monthly output across all...
Lactalis Mainland Lifts Milk Price
The processor increased its opening price by 15c/kgMS, lifting the rang to $8.80kgMS—$9.60kgMS. The 15c/kgMS average increase includes 12c/kg of fat and 18c/kg of protein. Reacting to the price hike in local news outlets, United Dairyfarmers of Victoria President...
Powder Prices Decline
This week’s Pulse event brought another price correction for SMP, WMP and AMF. GDT unable to publish a settle price for butter as the winning price was assessed as being non-market determined. The NZ regular WMP C2 price settled at US$3,500/t, down 1.4% from GDT #406...
NZ Season Finishes on a High Note
New DCANZ data shows the 2025–26 New Zealand dairy season set an all‑time production record. May production rose 5.0% year-over-year on a solids basis, with the season finishing +4.5% ahead of the prior season. On a tonnage basis, milk output lifted +3.6% YOY for the...
Danone Expands Australian Operations
French dairy company Danone agreed to acquire Melbourne-based MADE Group and Saputo's 49% stake in their Australian dairy joint venture, giving Danone full ownership of the business. The two major acquisitions are worth more than $1.5bn The deals strengthen Danone's...
Dairy Cow Prices Soar
Processor demand has pushed dairy cow prices sharply higher, with saleyard values up about 40% year‑on‑year as tighter supply meets strong domestic buying interest. According to industry stakeholders, most classes of dairy cattle, from heifers to Spring‑ and...
GDT Index Declines
Event #406 delivered another weaker outcome with price declines across all major products as demand, especially from North Asia (China), remains soft. The index decreased 2.8%. Fonterra C2 Regular WMP dipped 4.1% to US$3,550/t — just US$5/t lower than the price...
EU Milk +2.4% YOY in April
We estimate EU April milk production increased 2.4% YOY. This includes YOY growth in France (+1.1%), Germany (+6.0%), the Netherlands (+4.0% YOY), Poland (+3.7%), Denmark (+2.8%), Sweden (+5.0% YOY) and Austria (+7.2% YOY). Milk production increased by 5.09bn kg since...
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