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.

Chance of Wetter Autumn
Rainfall is likely (60 to 80% chance) to be above average across much of northern and eastern Australia for February to April, with the likelihood of above average rainfall exceeding 80% in parts of northern and central Queensland. For large parts of southern...

US Milk Down 0.5% In December
Milk production declined 0.5% YOY in December according to the USDA. It followed a 0.4% YOY decline in November, which was revised from a 1% fall in the previous report. US milk solids output improved in December by an estimated 1.2% YOY above milk volume, mostly due...

Aus Milk Down 1% In December
Australian milk production was down 1% YOY in December, putting season-to-date output 0.9% ahead of the prior year comparable. Victorian milk was -0.2% YOY in December as the dry conditions in the west, combined with warmer temperatures dragged on production,...

Powders Maintain Momentum
This week’s GDT Pulse event continued the upward momentum for New Zealand powders. WMP Regular broke the US$4,000/t barrier by US$10/t rising 1.6% or US$65/t from last week’s GDT auction #372 C2 price and finished 6.4% higher than the prior Pulse event. The result was...

GDT Index Rises
GDT event #372 reversed last week’s price index loss, adding 1.4% for the first gain in three events. WMP retraced three events with gains of 4.8% across contracts to lift prices on average to US$3,988/t. Fonterra removed 1,500t from C3 and C4 prior to the event....

NZ December Milk Up 1.4%
New Zealand milk production rose 1.4% in milk solids terms in December, taking seasonal output +3.7% ahead of the season prior. According to NZX, December recorded the strongest solids output since December 2020. It was the lowest monthly growth since June 2024....

Cull Cow Prices Bounce Back
Cull cow values have bounced back in January, according to the National Livestock Reporting Service. Saleyard prices for dairy cows averaged 232c per kg liveweight in the December quarter, down 5.5% from the prior three-month period. For the first three weeks of 2025,...

Above Average Wheat Crop For 2024/25
Australia’s wheat production is estimated at 32 mt for 2024/25 based on receivals data. This is the third largest crop on record, 20% above the 10-year average and despite tough seasonal conditions across southern Australia. Wheat quality is reportedly lower than...

SMP Unchanged On Pulse
Prices were mostly unchanged at the first Pulse event of 2025, increasing from GDT #371 last week. Regular grade WMP settled at US$3,770/t up 0.5% on the C2 price achieved at GDT#371 and 1.8% higher than the previous Pulse event. The nearest futures contract settled...

Australian Exports Up In November
Australian exports rose in 46.8% YOY in November, in milk solids equivalent terms, increasing YOY in every month since December 2023, led by cheese, milk powders and fats. Exports increased most major commodities (except dry whey, lactose, infant formula and milk...
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