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Market News

World

Australia: Milk delivery In aumento +7,04%
Brazil: Milk delivery In aumento +1,61%
Mexico: Milk Production In aumento +3,09%
Australia: Whole Milk Powder (WMP) Prod. In calo -22,11%
Australia: Cheese Production In aumento +11,97%
Australia: Skim Milk Powder (SMP) Prod. In aumento +3,83%

Europe

Netherlands: Butter price (82%) In calo -1,22%
Netherlands: Skim Milk Powder (Adpi-SMP) price In aumento +0,92%
France: SMP price (Poudre 0%) In aumento +3,18%
Hungary: Farm gate milk price In calo -1,49%
Western Europe: Whey Powder Sweet price In aumento +13,85%
Western Europe: WMP price In aumento +6,32%

Italy

IT, Puglia: Farm gate milk price In calo -0,06%
IT, Lombardy: Farm gate milk price In aumento +1,05%
IT, Verona: Spot milk price In calo -2,04%
IT, Verona: foreign Skim Spot Milk price In calo -2,94%
IT, Milan: Pasteurised butter price In aumento +2,38%
IT, Milan: Butter churned price In aumento +2,63%
Information Note
  1. Market News evidences only the changes; should no price change or no quotation take place, any mention will be made.
  2. The change/variation concerning PRODUCTION/OUTPUT quantity refers to the same period of the previous year.
  3. The change/variation concerning STOCK quantity refers to the previous month.
  4. The change/variation of price refers to PRICES expressed in local currency (for both EU and the World). The change refers to the previous week/month/year, as the case may be. In the case of dual-listed (min and max), changes are calculated using the MAX PRICE.

Processing input costs

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Milk - Balance sheet in Mio Tons | Year 2026 (Forecast made in July)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 573.13+1.4% 124.63+2.2% 197.75+1.0% 495.30+1.8%
India 105.40 +2.1% 116.00 +2.4% 93.00 +2.2% 128.37 +2.3%
Share % 18.4% 93.1% 47.0% 25.9%
EU-27 150.00 +1.0% 4.20 -0.5% 23.50 +1.2% 130.40 +0.9%
Share % 26.2% 3.4% 11.9% 26.3%
United States 107.34 +2.1% 0.00 0.0% 20.00 -1.0% 86.68 +2.9%
Share % 18.7% 0.0% 10.1% 17.5%
China 40.90 0.0% 0.91 +1.1% 15.63 -0.2% 26.79 +0.1%
Share % 7.1% 0.7% 7.9% 5.4%
Russia 33.90 -0.3% 0.00 0.0% 7.03 -0.4% 25.28 0.0%
Share % 5.9% 0.0% 3.6% 5.1%
Source: USDA, Latest update: 2026-07-24

Global Snapshot

MILK EQUIVALENT | SMP | WMP | BUTTER | CHEESE

Milk Equivalent
('000 Ton)
Δ Milk P. Δ Imp* Δ Exp* Δ Cons* (e) Balance
Δ(P+I-E-C)
Main Players, changes Jan-May 2026 on Jan-May 2025
EU-27
+2.343
-5
+612
+111
+1.615
New Zealand
+455
+6
+695
0
-234
USA
+1.224
-46
+544
+1.402
-768
United Kingdom
+101
+90
+180
+28
-17
Australia
+120
+30
-165
+11
+304
Argentina
+258
+2
+232
+123
-95
Uruguay
+71
+6
+38
0
+38
Chile
+40
+46
+18
+3
+65
TOTAL
+4.612
+129
+2.155
+1.678
+908

Last update: 2026-07-30
(e) Estimated data
* Import, Export and Consumption data are in Milk Equivalent (ME), comprehensive of WMP, Cheese, SMP+Butter and Liquid Milk. Import and Export data are also comprehensive of Condensed Milk and Yogurt.

Information Note
SOURCE
  • Production:
    • EU-27: Eurostat, FEGA, AGEA, Zuivel;
    • United Kingdom: DEFRA;
    • New Zealand: DCANZ;
    • US: National Agricultural Statistics Service;
    • Australia: Dairy Australia;
    • Belarus: National Statistical Committee of the Republic of Belarus;
    • Uruguay: INALE;
    • Argentina: Subsecretaría de Lechería - Ministerio de Agroindustria;
    • Ukraine: State Statistics Committee of Ukraine;
    • Chile: ODEPA.
  • Import/Export:
    • UE-27: Eurostat
    • United KIngdom: United Kingdom HMRC
    • New Zealand: Stat.nz
    • US: Census Bureau
    • Chile: ODEPA
    • Australia, Belarus, Uruguay, Argentina, Ukraine: IHS
  • Domestic consumption data calculated by applying the incidence of consumption over production reported by FAS-USDA on the productions obtained from the local sources.
    The domestic consumption changes estimated by the FAS-USDA source are updated every six months (June and December).
Note: The balance sheet at the moment does not consider the trade of FFMP (fat-filled milk powder) - HS 190190, milk powder that has a fat content similar to whole milk powder, but instead of butterfat contains vegetable fats.
« Last year Current year »
 
 
/Ton US
(2026-09-11)
OCEANIA
(2026-09-11)
EU¹
(2026-09-16)
GDT²
(2026-09-15)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.219 -0,3% 3.588 -7,1% 3.735 -0,4% 4.060 +19,3%
BUTTER 3.020 -4,9% 5.088 -1,9% 4.846 -0,6% 4.757 -5,8%
SMP 4.211 +4,1% 3.600 +6,3% 3.704 -0,6% 3.689 -0,2%
WMP 5.060 +4,8% 3.563 +0,4% 4.477 +0,1% 3.560 -0,8%
WHEY POWDER 1.466 0,0%     2.337 +0,6%    
MILK (US$/100Kg) 44,75 -3,8% 40,60 -0,1% 47,79 -1,1%    
*Change from previous price
¹ Prices refer to Germany. Cheese prices refer to Cheddar in the European Union (source: European Commission (Milk Market Observatory))
² Contract 2 GDT
n.a.: not available

Show/Hide Global Snapshot in €

/Ton US
(2026-09-11)
OCEANIA
(1789077600)
EU¹
(2026-09-16)
GDT²
(2026-09-15)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 2.771 -0,3% 3.095 -6,7% 3.214 -0,2% 3.515 +19,8%
BUTTER 2.600 -4,9% 4.389 -1,5% 4.200 0,0% 4.118 -5,4%
SMP 3.633 +4,4% 3.106 +6,7% 3.210 0,0% 3.194 +0,3%
WMP 4.365 +5,1% 3.073 +0,8% 3.880 +0,8% 3.082 -0,4%
WHEY POWDER 1.265 +0,3%     2.025 +1,3%    
MILK (€/100Kg) 39,20 -2,9% 35,56 +0,7% 41,86 -0,2%    
*Change from previous price
¹ Prices refer to Germany. Cheese prices refer to Cheddar in the European Union (source: European Commission (Milk Market Observatory))
² Contract 2 GDT
n.a.: not available

FOCUS Price Products € in real time

  Area Last
updated
± from
prev. price
± from
1 year ago
Price / Quotation
  Whole Milk…
      ▸ “SPOT” Italy 14 Sep 2026 -0,8% -12,8%
      ▸ farm-gate EU (13 country) Aug 2026 -3,0% -22,1%
      ▸ farm-gate USA Jul 2026 -2,9% -0,2%
  PDO cheeses…
      ▸ hard Italy 14 Sep 2026 0,0% +3,5%
      ▸ semi-hard Italy 14 Sep 2026 0,0% -3,8%
      ▸ fresh Italy 14 Sep 2026 0,0% -5,1%
Cheeses Germany and Oceania 16 Sep 2026 -1,5% -9,4%
Butter Italy, Germany and Oceania 16 Sep 2026 -0,1% -31,7%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 16 Sep 2026 +2,7% +45,2%
Whey powder Germany and USA 16 Sep 2026 +0,1% +48,0%
  Feed input
      ▸ Corn Italy and USA 10 Sep 2026 +1,1% +5,4%
      ▸ Soybeans Italy and USA 14 Sep 2026 +0,6% +19,0%
      ▸ GMO Soybean Meal Italy 14 Sep 2026 +0,6% +34,4%
Oil Europe 4 Sep 2026 +10,4% +48,2%
Retail price
PDO hard cheeses Italy Jul 2026 +1,8% -2,6%
Fresh cheeses Italy Jul 2026 +0,7% -4,8%
Butter Italy Jul 2026 -0,5% -15,3%
Percentage price changes relate to (i) the last quotation period, and to (ii) the same period of the previous year

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World Supply and Demand

  • CHEESE Stocks
    · US Stocks: Jul 31, 2026 650.030 tons (-0.2% on Jun 2026; +0.4% on Jul, 2025)
    · EU-27
    Consumption (Production + Import - Export): Jun 30,2026 0 tons (-73,0% on May 2026; -71,0% on Jun, 2025)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Aug 31, 2026 2.050.292 number of wheels (+0,1% on Jul 2026; +6,4% on Aug, 2025)
    - Total: Aug 31, 2026 0 number of wheels (+nan% on Jul 2026; -100,0% on Aug, 2025)

  • DRY WHEY Stocks
    · US Stock: Jul 31, 2026 31.036 tons (+5.2% rispetto a Jun 2026; +36.5% rispetto a Jul, 2025)

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** Compared to the same month of the previous year (Information Note)

Import or Export changes become “Alerts” if the given thresholds are exceeded: Cream ± 20 %, Milk in packings of > 2 l ± 20 %, Milk in packings of <= 2 l ± 20 %, Baby milk ± 15 %, Butter ± 15 %, Cheese ± 15 %, SMP ± 20 %, WMP ± 20 %, Whey powder ± 40 %

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a new project:Sistema Stalla Performance and Competitiveness of Italian Dairy Farms
 

CLAL focus on: Valcolatte

Name:
Mozzarella Bocconcino Valcolatte
Company:
Valcolatte
Base:
Pontenure (PC), Italy
Personnel:
300 persons
Establishment year:
1988
Products:
ricotta, mozzarella, provolone, PDO cheeses, stracchino, butter, mascarpone


Mozzarella Valcolatte Bocconcino with milk enzymes is available in packs of 100 g or 125 g.

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