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Market News

World

US: Butter  stock In aumento +4,39%
US: Cheese 40# Blocks price In calo -3,11%
US: Butter, Grade AA price In aumento +3,31%
South America: Whole Milk Powder (WMP) price In aumento +1,14%
Oceania: Cheddar price In calo -7,56%
Oceania: Whole Milk Powder (WMP) price In calo -1,67%

Europe

Western Europe: Whey Powder Sweet price In calo -1,82%
Western Europe: WMP price In calo -0,49%
Western Europe: SMP price In aumento +0,90%
Western Europe: Butter price (82%) In calo -7,44%
Poland: Butter price (82%) In calo -1,84%
Poland: Farm gate milk price In calo -0,22%

Italy

IT, Parma: Parmig. Regg. PDO (30 months) price In aumento +0,31%
IT, Parma: Parmig.Regg. (24 months) price In aumento +0,32%
IT, Parma: Parmig. PDO Regg. (18 months) price In aumento +0,34%
IT, Parma: Parmig. Regg. PDO (15 months) price In aumento +0,37%
IT, Parma: Parmig.Regg. (12 months) price In aumento +0,38%
IT, Parma: Churned butter price In calo -2,12%
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 2025 (Forecast made in December)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 558.48+0.8% 121.82+2.3% 197.55+0.8% 478.04+1.1%
India 103.20 +2.2% 113.30 +2.3% 91.00 +2.2% 125.48 +2.3%
Share % 18.5% 93.0% 46.1% 26.2%
EU-27 145.30 -0.2% 4.08 0.0% 23.55 -0.2% 125.48 -0.2%
Share % 26.0% 3.3% 11.9% 26.2%
United States 103.43 +0.8% 0.00 0.0% 20.20 -1.0% 82.62 +1.2%
Share % 18.5% 0.0% 10.2% 17.3%
China 43.30 +0.7% 0.97 +2.1% 17.10 +0.6% 27.82 +0.7%
Share % 7.8% 0.8% 8.7% 5.8%
Russia 32.60 +0.3% 0.00 0.0% 6.60 -1.5% 24.33 +0.8%
Share % 5.8% 0.0% 3.3% 5.1%
Source: USDA, Latest update: 2024-12-21

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 2024 on Jan-Dec 2023
EU-27
+634
+190
-1.044
-291
+2.159
New Zealand
+284
-39
-24
0
+269
USA
-201
+253
-16
+1.310
-1.242
Australia
+202
-151
+812
+199
-960
United Kingdom
+181
+162
-157
-109
+609
Argentina
-758
-16
+248
-744
-278
Uruguay
-78
-3
+39
0
-121
Chile
+75
-22
+96
+8
-50
TOTAL
+338
+376
-46
+374
+387

Last update: 2025-03-27
(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
(2025-05-23)
OCEANIA
(2025-05-23)
EU¹
(2025-05-21)
GDT²
(2025-05-20)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 4.123 -3,1% 5.088 -4,7% 5.186 +0,0% 5.119 -8,4%
BUTTER 5.335 +3,3% 7.838 +0,5% 8.206 +4,0% 7.853 -2,6%
SMP 2.657 +0,8% 2.938 -1,3% 2.709 +1,6% 2.774 -0,1%
WMP 4.586 +0,5% 4.338 +0,9% 4.935 +1,2% 4.423 -1,7%
WHEY POWDER 1.124 +1,0%     1.281 +1,2%    
MILK (US$/100Kg) 48,50 -6,8% 43,51 +0,8% 59,88 +4,1%    
*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
(2025-05-23)
OCEANIA
(1747951200)
EU¹
(2025-05-21)
GDT²
(2025-05-20)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.645 -4,2% 4.502 -5,1% 4.633 +0,6% 4.545 -7,8%
BUTTER 4.718 +2,2% 6.935 +0,0% 7.300 +2,8% 6.973 -1,9%
SMP 2.351 -0,1% 2.599 -1,7% 2.410 +0,4% 2.463 +0,6%
WMP 4.058 -0,5% 3.838 +0,4% 4.390 0,0% 3.927 -1,0%
WHEY POWDER 995 +0,0%     1.140 0,0%    
MILK (€/100Kg) 44,88 -10,2% 40,26 -2,9% 53,40 +0,3%    
*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 19 May 2025 +1,3% +13,3%
      ▸ farm-gate EU (13 country) Apr 2025 -1,0% +17,4%
      ▸ farm-gate USA Mar 2025 -10,2% +7,4%
  PDO cheeses…
      ▸ hard Italy 22 May 2025 0,0% +21,1%
      ▸ semi-hard Italy 19 May 2025 0,0% +8,5%
      ▸ fresh Italy 19 May 2025 0,0% +9,6%
Cheeses Germany and Oceania 23 May 2025 -1,7% +9,1%
Butter Italy, Germany and Oceania 23 May 2025 +0,5% +15,3%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 23 May 2025 -0,4% +2,3%
Whey powder Germany and USA 23 May 2025 +0,0% +24,5%
  Feed input
      ▸ Corn Italy and USA 22 May 2025 -0,7% +6,7%
      ▸ Soybeans Italy and USA 22 May 2025 -1,6% -15,5%
      ▸ GMO Soybean Meal Italy 22 May 2025 -1,5% -29,1%
Oil Europe 16 May 2025 +5,2% -19,7%
Retail price
PDO hard cheeses Italy Mar 2025 +1,7% +13,5%
Fresh cheeses Italy Mar 2025 +0,8% +1,9%
Butter Italy Mar 2025 +1,2% +17,3%
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: Apr 30, 2025 638.686 tons (+0.7% on Mar 31, 2025; -2.4% on Apr, 2024)
    · EU-27
    Consumption (Production + Import - Export): Dec 31,2024 0 tons (-1,1% on Nov 30, 2024; +27,4% on Dec, 2023)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Apr 30, 2025 2.022.135 number of wheels (-3,7% on 31 Mar 2025; +5,3% on Apr, 2024)
    - Total: Apr 30, 2025 6.333.632 number of wheels (+1,6% on 31 Mar 2025; +4,3% on Apr, 2024)

  • DRY WHEY Stocks
    · US Stock: Mar 31, 2025 29.118 tons (+2.4% rispetto a Feb 28, 2025; -21.0% rispetto a Mar, 2024)

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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: 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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The Agricultural Market News are now available on TESEO.clal.it: click here.

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