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Market News

World

US: Farm gate milk price In calo -1,52%
US: Cheese 40# Blocks price In calo -7,93%
US: Butter, Grade AA price In aumento +1,31%
US: Whey Protein Concentrate (34%) price In aumento +5,45%
US: Nonfat Dry Milk Price In calo -2,27%
Malaysia: Palm oil price In aumento +0,84%

Europe

Slovak Republic: Farm-gate raw milk price In aumento +4,83%
Poland: Butter price (82%) In aumento +4,05%
Netherlands: Skim Milk Powder feed price In aumento +0,28%
Netherlands: Whey Powder feed price In calo -1,20%
France: Butter price (82%) In calo -0,24%
France: SMP price (Poudre 0%) In aumento +1,51%

Italy

IT, Parma: Parmig. PDO Regg. (18 months) price In aumento +0,58%
IT, Parma: Parmig. Regg. PDO (30 months) price In aumento +0,53%
IT, Parma: Parmig. Regg. PDO (15 months) price In aumento +0,32%
IT, Parma: Parmig.Regg. (24 months) price In aumento +0,56%
IT, Parma: Parmig.Regg. (12 months) price In aumento +0,33%
IT, Mantua: Grana Padano PDO (10 months) price In calo -1,02%
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-Aug 2026 on Jan-Aug 2025
EU-27
+3.002
-68
+1.526
+178
+1.230
New Zealand
+525
-21
+999
0
-496
USA
+1.856
+14
+415
+2.243
-788
United Kingdom
-7
+146
+209
+45
-116
Australia
+194
+7
-187
+18
+369
Argentina
+332
+6
+256
+196
-114
Uruguay
+131
+4
+97
0
+38
Chile
+67
+21
+10
+5
+74
TOTAL
+6.099
+108
+3.324
+2.685
+197

Last update: 2026-10-22
(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
(2026-10-30)
OCEANIA
(2026-10-23)
EU¹
(2026-10-28)
GDT²
(2026-10-20)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.522 -7,9% 3.913 -1,3% 3.609 -0,2% 3.583 -8,1%
BUTTER 2.993 +1,3% 4.775 0,0% 4.627 -0,6% 4.746 -0,3%
SMP 4.641 -2,1% 3.925 +4,0% 4.086 -0,2% 3.957 +3,1%
WMP 5.368 -1,6% 3.650 +2,5% 4.376 -0,6% 3.741 +4,2%
WHEY POWDER 1.642 +0,7%     2.291 +0,2%    
MILK (US$/100Kg) 42,99 -1,5% 42,65 +5,1% 48,98 +2,0%    
*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
(2026-10-30)
OCEANIA
(1792706400)
EU¹
(2026-10-28)
GDT²
(2026-10-20)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.164 -7,3% 3.495 -1,1% 3.224 +0,3% 3.192 -8,2%
BUTTER 2.689 +2,0% 4.266 +0,1% 4.150 0,0% 4.228 -0,5%
SMP 4.154 -1,9% 3.507 +4,1% 3.665 +0,4% 3.525 +2,9%
WMP 4.805 -1,4% 3.261 +2,6% 3.925 0,0% 3.333 +4,0%
WHEY POWDER 1.470 +0,9%     2.055 +0,7%    
MILK (€/100Kg) 37,34 -0,8% 36,79 +3,5% 42,25 +0,5%    
*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 26 Oct 2026 0,0% -2,0%
      ▸ farm-gate EU (13 country) Sep 2026 +2,8% -19,3%
      ▸ farm-gate USA Sep 2026 -0,8% -2,6%
  PDO cheeses…
      ▸ hard Italy 29 Oct 2026 +0,1% +6,7%
      ▸ semi-hard Italy 26 Oct 2026 0,0% -3,5%
      ▸ fresh Italy 26 Oct 2026 0,0% -5,1%
Cheeses Germany and Oceania 28 Oct 2026 -0,6% -4,0%
Butter Italy, Germany and Oceania 28 Oct 2026 +0,0% -27,0%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 30 Oct 2026 +0,5% +75,5%
Whey powder Germany and USA 30 Oct 2026 +0,4% +46,6%
  Feed input
      ▸ Corn Italy and USA 29 Oct 2026 +1,4% +17,5%
      ▸ Soybeans Italy and USA 29 Oct 2026 +0,2% +24,6%
      ▸ GMO Soybean Meal Italy 29 Oct 2026 -1,8% +34,8%
Oil Europe 23 Oct 2026 -3,6% +91,4%
Retail price
PDO hard cheeses Italy Sep 2026 -0,2% -1,6%
Fresh cheeses Italy Sep 2026 -2,3% -4,9%
Butter Italy Sep 2026 -3,5% -16,8%
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: Sep 30, 2026 647.989 tons (-0.9% on Aug 2026; +2.4% on Sep, 2025)
    · EU-27
    Consumption (Production + Import - Export): Aug 31,2026 0 tons (+30,8% on Jul 2026; -43,3% on Aug, 2025)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Sep 30, 2026 2.098.784 number of wheels (+2,4% on Aug 2026; +11,1% on Sep, 2025)
    - Total: Sep 30, 2026 0 number of wheels (+nan% on Aug 2026; -100,0% on Sep, 2025)

  • DRY WHEY Stocks
    · US Stock: Aug 31, 2026 27.797 tons (-10.4% rispetto a Jul 2026; +21.6% rispetto a Aug, 2025)

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

CLAL focus on: Latteria Sociale Mantova

Name:
Fresh Grated Grana Padano
Company:
Latteria Sociale Mantova
Base:
S.Antonio di Porto Mantovano (MN), Italy
Establishment year:
1929
Products:
Grana Padano, Organic Grana Padano, Parmigiano Reggiano, Gran Mantovano Black Rind, Butter, Mascarpone

The Grana Padano grated cheese range is wide and includes sizes from the smaller ones (80 g and 100 g bags), to the larger (500 g, 1 kg, 2 kg, 5 kg), specific for retail and catering services.

One of the most successful articles is the fresh grated Grana Padano 100 g, in the Doypack aluminium resealable bag. A captivating and functional packaging, that preserves the flavour and the quality of the product, but also easy to store and ready to use in the kitchen.

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