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Market News

World

Malaysia: Palm oil price In calo -4,89%
Chile: Farm gate milk price In aumento +4,22%
Chile: Milk Delivery In aumento +10,70%
Argentina: Farm gate milk price In aumento +1,84%
Belarus: Milk Production In aumento +1,91%
Russia: Milk Production In calo -2,19%

Europe

Poland: Butter price (82%) In calo -1,50%
Czech Republic: Farm gate milk price In calo -5,00%
France: SMP price (Poudre 0%) In aumento +3,86%
France: Butter price (82%) In calo -1,12%
Netherlands: Butter price (82%) In calo -1,02%
Netherlands: Skim Milk Powder (Adpi-SMP) price In aumento +3,47%

Italy

IT, Lombardy: Farm gate milk price In calo -5,05%
IT, Mantua: Grana Padano PDO (14-16 months) price In aumento +0,47%
IT, Mantua: Grana Padano PDO (10 months) price In aumento +0,54%
IT: Grana Padano Production PDO In aumento +0,56%
IT, Milan: Pasteurised butter price In calo -2,44%
IT, Milan: Butter churned price In calo -2,70%
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-Feb 2026 on Jan-Feb 2025
EU-27
+1.091
-8
+178
+44
+860
New Zealand
+159
-1
-198
0
+356
USA
+543
-84
+327
+561
-430
United Kingdom
+92
+29
+163
+11
-53
Australia
+14
+1
-48
+5
+59
Argentina
+169
+1
+86
+49
+34
Uruguay
+21
+0
-19
0
+41
Chile
+14
+21
-3
+1
+37
TOTAL
+2.103
-42
+486
+671
+904

Last update: 2026-04-21
(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
(2026-05-08)
OCEANIA
(2026-05-08)
EU¹
(2026-05-13)
GDT²
(2026-05-05)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.577 -1,1% 4.725 -2,1% 3.711 +0,7% 4.554 -5,9%
BUTTER 3.671 +4,4% 5.950 -4,0% 4.548 +1,8% 5.576 -2,4%
SMP 4.982 +1,8% 3.588 +1,8% 3.463 +0,4% 3.538 +2,7%
WMP 5.655 +1,2% 3.700 +1,0% 3.944 -0,3% 3.730 +1,9%
WHEY POWDER 1.411 -1,5%     2.072 +1,9%    
MILK (US$/100Kg) 43,43 +7,7% 43,11 -2,6% 50,23 +0,9%    
*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
(2026-05-08)
OCEANIA
(1778191200)
EU¹
(2026-05-13)
GDT²
(2026-05-05)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.039 -1,6% 4.018 -2,5% 3.171 +0,8% 3.892 -5,4%
BUTTER 3.119 +3,8% 5.059 -4,4% 3.875 +1,3% 4.766 -1,9%
SMP 4.236 +1,3% 3.050 +1,3% 2.950 0,0% 3.024 +3,2%
WMP 4.808 +0,7% 3.146 +0,6% 3.360 -0,7% 3.188 +2,4%
WHEY POWDER 1.200 -2,0%     1.765 +1,4%    
MILK (€/100Kg) 37,58 +10,1% 37,30 -0,4% 42,91 -0,4%    
*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 11 May 2026 +1,5% -48,4%
      ▸ farm-gate EU (13 country) Apr 2026 -3,8% -21,1%
      ▸ farm-gate USA Mar 2026 +10,1% -16,3%
  PDO cheeses…
      ▸ hard Italy 14 May 2026 +0,1% +4,5%
      ▸ semi-hard Italy 14 May 2026 -3,4% +76,2%
      ▸ fresh Italy 11 May 2026 0,0% -3,9%
Cheeses Germany and Oceania 13 May 2026 -0,7% -10,4%
Butter Italy, Germany and Oceania 13 May 2026 -1,8% -39,8%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 13 May 2026 +0,7% +33,0%
Whey powder Germany and USA 13 May 2026 -0,9% +52,1%
  Feed input
      ▸ Corn Italy and USA 14 May 2026 +1,6% +0,5%
      ▸ Soybeans Italy and USA 14 May 2026 +1,1% +4,1%
      ▸ GMO Soybean Meal Italy 14 May 2026 +5,2% +33,2%
Oil Europe 8 May 2026 -11,5% +70,0%
Retail price
PDO hard cheeses Italy Mar 2026 -1,6% +0,9%
Fresh cheeses Italy Mar 2026 -0,8% -0,3%
Butter Italy Mar 2026 -3,1% -10,4%
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: Mar 31, 2026 635.653 tons (+1.0% on Feb 28, 2026; -1.6% on Mar, 2025)
    · EU-27
    Consumption (Production + Import - Export): Feb 28,2026 0 tons (-5,9% on Jan 31, 2026; +5,2% on Feb, 2025)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Apr 30, 2026 2.072.507 number of wheels (-0,2% on 31 Mar 2026; +2,5% on Apr, 2025)
    - Total: Apr 30, 2026 0 number of wheels (+nan% on 31 Mar 2026; -100,0% on Apr, 2025)

  • DRY WHEY Stocks
    · US Stock: Mar 31, 2026 29.007 tons (+6.3% rispetto a Feb 28, 2026; -0.5% rispetto a Mar, 2025)

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Dairy Market Alert

Clal.it outlines hereafter some important changes that occured in the market and may have an impact on the market trend Cheese, Butter, Powder and Packed Milk import and export flows of the main dairy players.


Access the Dairy World Trade section »  to analyse more in depth

** 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

CLAL.it provides the Operators with a range of updated information.


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

CLAL focus on: Fresh Grated Grana Padano Riserva

Name:
Fresh Grated Grana Padano Riserva
Company:
Ambrosi Spa
Base:
Castenedolo (BS), Italy
Establishment year:
1942
Products:
Grana Padano, Parmigiano Reggiano, fresh cheeses, other hard cheeses, butter


Freshly grated Grana Padano (PDO) RISERVA (aged 20 months at least), packaged in protective atmosphere.

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