Commodity Prices

Global dairy markets are dynamic and can be highly volatile. This reflects the small proportion of milk-equivalent product that is traded – small changes in demand and supply can have a significant impact on prices. The charts below compare weekly and monthly spot prices for products between and within key exporting countries and regions.

All prices are denominated in US dollars, which is the currency for global dairy trade.

These graphs compare weekly spot commodity prices (in the three major producing regions of the US, EU and NZ) for major products expressed in US$, showing regional and commodity comparisons.

Source: NZX, CME, European Commission.

This reports Dairy Australia’s monthly spot price series in US$

This monthly spot price series is based on a survey of local dairy manufacturers and traders. It has a long history that allows trends in local commodity returns to be tracked over time.

Source: Dairy Australia

The Global Dairy Trade (GDT) auction is held every two or three weeks and provides an important snapshot of actual trade. GDT is an important price-discovery mechanism that influences regional (including Australian domestic wholesale prices) and global commodity prices for milk powders and butterfat. Product traded on the GDT platform accounts for a meaningful portion of New Zealand’s exports.

These graphs show recent changes in GDT results for the major commodities sold on the platform, and the history of average prices recorded since early 2018.