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Market News

World

Chile: Farm gate milk price In aumento +2,98%
Chile: Milk Delivery In calo -18,96%
Japan: Caseins price In calo -0,68%
Japan: Milk Production In calo -0,99%
New Zealand: Farm gate milk price In aumento +2,09%
Uruguay: Milk Delivery In aumento +6,51%

Europe

Netherlands: Butter price (82%) In calo -3,02%
Netherlands: Whole Milk Powder (WMP) price In calo -3,79%
Netherlands: Skim Milk Powder (Adpi-SMP) price In calo -1,81%
Netherlands: Skim Milk Powder feed price In calo -3,64%
France: SMP price (Poudre 0%) In aumento +0,29%
France: Butter price (82%) In aumento +1,83%

Italy

IT: Gorgonzola PDO Production In aumento +5,40%
IT, Parma: Parmig. Regg. PDO (15 months) price In aumento +0,66%
IT, Parma: Parmig. Regg. PDO (30 months) price In aumento +0,55%
IT, Parma: Parmig.Regg. (24 months) price In aumento +0,58%
IT, Parma: Parmig.Regg. (12 months) price In aumento +1,03%
IT, Parma: Parmig. PDO Regg. (18 months) price In aumento +0,61%
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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Show the data of: Previous year

Milk - Balance sheet in Mio Tons | Year 2026 (Forecast made in December)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 565.43+0.7% 124.58+2.2% 197.32+0.8% 488.05+1.1%
India 105.40 +2.1% 116.00 +2.4% 93.00 +2.2% 128.37 +2.3%
Share % 18.6% 93.1% 47.1% 26.3%
EU-27 144.80 -0.5% 4.15 -0.5% 23.00 -0.9% 125.68 -0.3%
Share % 25.6% 3.3% 11.7% 25.8%
United States 106.19 +1.2% 0.00 0.0% 20.00 -1.0% 85.55 +1.7%
Share % 18.8% 0.0% 10.1% 17.5%
China 40.60 0.0% 0.91 +1.1% 15.70 +0.7% 26.43 -0.4%
Share % 7.2% 0.7% 8.0% 5.4%
Russia 33.90 -0.3% 0.00 0.0% 7.03 -0.4% 25.28 0.0%
Share % 6.0% 0.0% 3.6% 5.2%
Source: USDA, Latest update: 2025-12-20

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-Dec 2025 on Jan-Dec 2024
EU-27
+2.424
+226
+899
+3.779
-2.028
New Zealand
+398
+48
-383
0
+829
USA
+2.617
-90
+278
-73
+2.322
Australia
-181
+99
-138
+136
-80
United Kingdom
+760
+192
+466
+24
+463
Argentina
+1.059
+9
+232
+165
+671
Uruguay
+176
+2
+86
0
+92
Chile
+143
-48
+137
-39
-3
TOTAL
+7.397
+437
+1.576
+3.992
+2.266

Last update: 2026-04-03
(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
(2026-04-03)
OCEANIA
(2026-03-27)
EU¹
(2026-04-08)
GDT²
(2026-04-07)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.687 +5,7% 4.913 +0,5% 3.768 -0,6% 4.771 -3,2%
BUTTER 3.946 -1,9% 6.988 +4,5% 4.998 -1,8% 6.224 -9,3%
SMP 4.288 +3,5% 3.438 +7,8% 3.207 0,0% 3.376 +0,2%
WMP 5.137 +1,3% 3.738 -0,3% 3.981 -0,1% 3.684 -0,3%
WHEY POWDER 1.400 -0,8%     1.635 +0,5%    
MILK (US$/100Kg) 40,34 +4,6% 44,28 +5,0% 52,42 -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
(2026-04-03)
OCEANIA
(1774566000)
EU¹
(2026-04-08)
GDT²
(2026-04-07)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.199 +5,8% 4.265 +0,2% 3.261 -1,3% 4.140 -3,6%
BUTTER 3.424 -1,8% 6.067 +4,1% 4.325 -2,3% 5.400 -9,7%
SMP 3.721 +3,4% 2.985 +7,5% 2.775 -0,5% 2.929 -0,3%
WMP 4.457 +1,2% 3.245 -0,7% 3.445 -0,6% 3.197 -0,7%
WHEY POWDER 1.215 -0,9%     1.415 0,0%    
MILK (€/100Kg) 34,12 +3,8% 37,45 +4,2% 44,33 -1,8%    
*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 6 Apr 2026 0,0% -58,4%
      ▸ farm-gate EU (13 country) Feb 2026 -4,7% -14,1%
      ▸ farm-gate USA Feb 2026 +3,8% -31,7%
  PDO cheeses…
      ▸ hard Italy 6 Apr 2026 0,0% +3,7%
      ▸ semi-hard Italy 6 Apr 2026 -0,1% -2,3%
      ▸ fresh Italy 6 Apr 2026 0,0% -3,9%
Cheeses Germany and Oceania 8 Apr 2026 +0,7% -8,1%
Butter Italy, Germany and Oceania 8 Apr 2026 +1,0% -32,3%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 8 Apr 2026 +2,2% +23,4%
Whey powder Germany and USA 8 Apr 2026 -2,3% +42,5%
  Feed input
      ▸ Corn Italy and USA 2 Apr 2026 -0,1% -6,4%
      ▸ Soybeans Italy and USA 2 Apr 2026 +0,1% +0,4%
      ▸ GMO Soybean Meal Italy 2 Apr 2026 -3,4% +22,8%
Oil Europe 27 Mar 2026 -0,1% +49,6%
Retail price
PDO hard cheeses Italy Feb 2026 -2,7% +4,2%
Fresh cheeses Italy Feb 2026 -1,7% +1,3%
Butter Italy Feb 2026 -5,6% -6,4%
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: Feb 28, 2026 629.304 tons (+0.4% on Jan 31, 2026; -1.0% on Feb, 2025)
    · EU-27
    Consumption (Production + Import - Export): Jan 31,2026 0 tons (+9,0% on 31, 2025; +33,0% on Jan, 2025)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Feb 28, 2026 2.085.867 number of wheels (+7,1% on 31 Jan 2026; +2,9% on Feb, 2025)
    - Total: Feb 28, 2026 0 number of wheels (+nan% on 31 Jan 2026; -100,0% on Feb, 2025)

  • DRY WHEY Stocks
    · US Stock: Feb 28, 2026 26.366 tons (-7.1% rispetto a Jan 31, 2026; -7.3% rispetto a Feb, 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 %

Clal Updates and Publications

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

CLAL focus on: Stracchino Nonno Nanni

Name:
Stracchino Nonno Nanni
Company:
Latteria Montello S.p.A.
Headquarter and production site:
Italy - Giavera del Montello (TV
Products:
Nonno Nanni Fresh Cheeses

It's a creamy cheese, made from pasteurized milk, added with milk living ferments.

Prepared according to Italian tradition, Nonno Nanni Stracchino, is a unique, natural and free of preservatives cheese containing over 2 billion lactic ferments per gram. Its soft pasta is the result of a unique and skilful balance between fresh milk and milk ferments.

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