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Market News

World

Australia: Milk delivery In aumento +4,08%
US: Farm gate milk price In calo -0,94%
US: Cheese 40# Blocks price In calo -2,18%
US: Butter, Grade AA price In aumento +0,50%
Oceania: Cheddar price In calo -2,33%
Oceania: Whole Milk Powder (WMP) price In calo -2,10%

Europe

Western Europe: Whey Powder Sweet price In calo -1,08%
Western Europe: WMP price In aumento +7,41%
Western Europe: SMP price In aumento +1,50%
Western Europe: Butter price (82%) In aumento +3,28%
Slovak Republic: Farm-gate raw milk price In calo -0,60%
Poland: Butter price (82%) In calo -1,96%

Italy

IT, Parma: Parmig. PDO Regg. (18 months) price In aumento +0,58%
IT, Parma: Parmig. Regg. PDO (30 months) price In aumento +1,10%
IT, Parma: Parmig.Regg. (24 months) price In aumento +0,56%
IT, Parma: Parmig.Regg. (12 months) price In aumento +0,67%
IT, Parma: Churned butter price In aumento +3,70%
IT,Reggio Emilia: Parmig. Regg. (24 months) price In aumento +0,57%
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
+2.348
-44
+618
+111
+1.575
New Zealand
+455
+6
+695
0
-235
USA
+1.224
-46
+544
+1.402
-768
United Kingdom
+102
+90
+144
+28
+20
Australia
+91
+30
-149
+11
+259
Argentina
+258
+2
+232
+123
-95
Uruguay
+71
+6
+38
0
+38
Chile
+40
+46
+18
+3
+65
TOTAL
+4.589
+90
+2.140
+1.678
+860

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
(2026-07-31)
OCEANIA
(2026-07-31)
EU¹
(2026-07-29)
GDT²
(2026-07-21)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.467 -2,2% 3.838 -6,4% 3.800 +0,3% 3.475 -
BUTTER 3.340 +0,5% 5.413 -2,7% 4.604 +0,8% 5.306 -1,3%
SMP 3.318 -1,0% 3.288 +1,2% 3.240 -0,4% 3.190 +2,5%
WMP 4.475 -3,8% 3.450 -0,7% 3.723 -0,4% 3.480 +1,5%
WHEY POWDER 1.455 0,0%     2.182 -0,4%    
MILK (US$/100Kg) 46,52 -0,9% 43,49 +0,8% 48,77 -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
(2026-07-31)
OCEANIA
(1785448800)
EU¹
(2026-07-29)
GDT²
(2026-07-21)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.021 -2,9% 3.341 -6,8% 3.323 +0,3% 3.041 +inf%
BUTTER 2.910 -0,2% 4.713 -3,1% 4.050 +1,3% 4.644 -1,4%
SMP 2.889 -1,9% 2.862 +0,7% 2.850 0,0% 2.792 +2,4%
WMP 3.897 -4,7% 3.004 -1,2% 3.275 0,0% 3.046 +1,4%
WHEY POWDER 1.267 -0,9%     1.920 0,0%    
MILK (€/100Kg) 40,39 +0,4% 37,26 +1,1% 42,34 -0,7%    
*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 27 Jul 2026 -4,4% -26,9%
      ▸ farm-gate EU (13 country) Jun 2026 -1,8% -20,6%
      ▸ farm-gate USA Jun 2026 +0,4% -1,0%
  PDO cheeses…
      ▸ hard Italy 30 Jul 2026 +0,2% +3,8%
      ▸ semi-hard Italy 27 Jul 2026 0,0% -3,8%
      ▸ fresh Italy 27 Jul 2026 0,0% -5,1%
Cheeses Germany and Oceania 31 Jul 2026 -1,5% -13,1%
Butter Italy, Germany and Oceania 31 Jul 2026 -0,4% -39,3%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 31 Jul 2026 +0,1% +16,3%
Whey powder Germany and USA 31 Jul 2026 -0,5% +42,5%
  Feed input
      ▸ Corn Italy and USA 30 Jul 2026 -0,2% -5,9%
      ▸ Soybeans Italy and USA 30 Jul 2026 -0,7% +17,0%
      ▸ GMO Soybean Meal Italy 30 Jul 2026 -0,6% +24,4%
Oil Europe 24 Jul 2026 +15,9% +37,1%
Retail price
PDO hard cheeses Italy Jun 2026 -1,0% -1,8%
Fresh cheeses Italy Jun 2026 +2,0% -3,9%
Butter Italy Jun 2026 -0,9% -13,2%
Percentage price changes relate to (i) the last quotation period, and to (ii) the same period of the previous year

CLICK HERE for further information.

World Supply and Demand

  • CHEESE Stocks
    · US Stocks: Jun 30, 2026 650.035 tons (+1.1% on May 31, 2026; -0.8% on Jun, 2025)
    · EU-27
    Consumption (Production + Import - Export): May 31,2026 0 tons (+6,3% on Apr 30, 2026; -18,1% on May, 2025)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Jun 30, 2026 2.006.417 number of wheels (-1,5% on 31 May 2026; +2,7% on Jun, 2025)
    - Total: Jun 30, 2026 0 number of wheels (+nan% on 31 May 2026; -100,0% on Jun, 2025)

  • DRY WHEY Stocks
    · US Stock: May 31, 2026 28.576 tons (+3.5% rispetto a Apr 30, 2026; +0.9% rispetto a May, 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: Belsagio Mezzano

Name:
Belsagio Mezzano
Company:
Sachsenmilch Leppersdorf GmbH
Base:
Leppersdorf (Germany)
Establishment year:
1991
Products:
Naturally-matured cheese, cheese blocks and cubes, cheese slices and portions

Belsagio is a cheese which is matured ca. 12 weeks on spruce wood boards and has an intensive and irresistible taste.

Belsagio is a new cheese which was arisen from the cheese tradition, passion and experience of our cheese masters. They have produced a cheese with an incomparable taste which is close to the Italian cheese flavour. Belsagio is a new proposal for your counter to offer a unique taste through a high quality cheese.

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