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.
Rain Spurs Crop Yield
Recent rainfall across Victoria has filled soil moisture profiles to near capacity, driving strong optimism for the state's winter crops. Agriculture Victoria data shows many key cropping regions are now at or close to 100% soil moisture after good June and early July...
Weaker GDT Demand Drags Down Index
GDT #407 was another event with softer demand from North Asia and stronger Southeast Asia buying. However, any lift in demand was offset by seasonally higher product on offer. The index declined 4.9%, down for a third consecutive auction. Fonterra C2 Regular WMP fell...
Global Demand Expected to Remain Soft
Ever.Ag's latest Global Dairy Directions outlook is murky with plenty of milk expected, at least in the US. European milk output growth has slowed but remains ahead of expectations. Parts of the continent are growing at impressive rates, but the heat wave in June and...
Australian Cheese Exports Weaken
Total May exports declined 4.1% YOY in milk solids equivalent (MSE) terms. After rebounding in April, cheese exports fell 9.1% YOY, with weaker shipments to Japan. SMP exports declined 19.4% YOY, with weaker shipments to China & HK and SE Asia. Following months of...
Australia’s March Dairy Product Output Mixed
Australian manufactured dairy production showed mixed results in March 2026. Cheese recorded the strongest growth, rising 12.0% year-over-year to 39,353 tonnes, while SMP increased a more modest +3.8% YOY to 9,975 tonnes. In contrast, butter production declined 8.9%...
Lactalis Removes Fresh Label, Pays ACCC Fine
Lactalis Australia has paid three infringement notices, for a total of $59,400, issued by the Australian Competition and Consumer Commission (ACCC) for allegedly mislabelling two of its milk products. According to the ACCC, Lactalis’ Golden North Country Fresh 2l and...
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...
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