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Market News

World

US: Cheese 40# Blocks price In calo -7,23%
US: Butter, Grade AA price In aumento +6,78%
US: Lactose price In aumento +4,17%
US: Nonfat Dry Milk Price In aumento +0,88%
Malaysia: Palm oil price In calo -1,25%
Argentina: Farm gate milk price In aumento +0,17%

Europe

Poland: Butter price (82%) In aumento +3,94%
Hungary: Farm gate milk price In aumento +3,55%
France: SMP price (Poudre 0%) In calo -0,15%
France: Butter price (82%) In aumento +4,96%
Netherlands: Whole Milk Powder (WMP) price In calo -2,89%
Germany: Skim Milk Powder (Adpi - SMP) price In calo -0,92%

Italy

IT, Lombardy: Farm gate milk price In calo -2,52%
IT, Parma: Parmig. PDO Regg. (18 months) price In aumento +0,66%
IT, Parma: Parmig. Regg. PDO (30 months) price In aumento +0,60%
IT, Parma: Parmig. Regg. PDO (15 months) price In aumento +0,70%
IT, Parma: Parmig.Regg. (24 months) price In aumento +0,62%
IT, Parma: Churned butter price In calo -5,54%
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 2025 (Forecast made in July)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 559.61+0.8% 121.75+2.3% 196.89+0.8% 479.65+1.2%
India 103.20 +2.2% 113.30 +2.3% 91.00 +2.2% 125.47 +2.3%
Share % 18.4% 93.1% 46.2% 26.2%
EU-27 145.30 -0.5% 4.08 -2.2% 23.73 -0.4% 125.20 -0.4%
Share % 26.0% 3.4% 12.1% 26.1%
United States 103.58 +1.1% 0.00 0.0% 20.20 -1.0% 82.76 +1.6%
Share % 18.5% 0.0% 10.3% 17.3%
China 40.60 -0.5% 0.90 +7.1% 15.60 -0.6% 26.55 -0.2%
Share % 7.3% 0.7% 7.9% 5.5%
Russia 34.40 +1.0% 0.00 0.0% 7.05 -0.4% 25.68 +1.4%
Share % 6.1% 0.0% 3.6% 5.4%
Source: USDA, Latest update: 2025-07-26

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-Jul 2025 on Jan-Jul 2024
EU-27
-423
+98
+168
+164
-657
New Zealand
+121
+38
-238
0
+396
USA
+892
+49
-153
+1.403
-310
Australia
-129
-10
-127
+65
-77
United Kingdom
+405
+152
+134
+62
+361
Uruguay
+54
+5
+35
0
+25
Argentina
+613
+4
-88
+98
+607
Chile
+95
-54
+72
0
-31
TOTAL
+1.628
+282
-197
+1.791
+316

Last update: 2025-09-18
(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
(2025-11-14)
OCEANIA
(2025-11-07)
EU¹
(2025-11-12)
GDT²
(2025-11-04)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.395 -7,2% 4.588 -4,2% 5.107 +0,2% 4.441 -6,8%
BUTTER 3.472 +6,8% 6.588 -2,2% 6.135 -2,0% 6.341 -5,4%
SMP 2.491 +0,4% 2.575 -1,0% 2.431 +0,3% 2.551 +0,2%
WMP 3.968 -2,2% 3.550 -2,1% 3.849 -2,2% 3.499 -3,1%
WHEY POWDER 1.477 +4,7%     1.279 -0,2%    
MILK (US$/100Kg) 45,86 -2,3% 44,71 -0,3% 61,54 -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

Show/Hide Global Snapshot in €

/Ton US
(2025-11-14)
OCEANIA
(1762470000)
EU¹
(2025-11-12)
GDT²
(2025-11-04)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 2.922 -7,9% 3.968 -3,8% 4.420 +0,7% 3.857 -5,7%
BUTTER 2.988 +6,0% 5.698 -1,8% 5.300 -2,8% 5.507 -4,2%
SMP 2.139 -0,3% 2.227 -0,5% 2.100 -0,5% 2.216 +1,4%
WMP 3.407 -2,9% 3.071 -1,6% 3.325 -2,9% 3.039 -1,9%
WHEY POWDER 1.268 +3,9%     1.105 -0,9%    
MILK (€/100Kg) 39,27 -3,7% 38,11 -1,1% 52,91 -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

FOCUS Price Products € in real time

  Area Last
updated
± from
prev. price
± from
1 year ago
Price / Quotation
  Whole Milk…
      ▸ “SPOT” Italy 10 Nov 2025 -4,2% -34,2%
      ▸ farm-gate EU (13 country) Oct 2025 +0,3% +11,1%
  PDO cheeses…
      ▸ hard Italy 13 Nov 2025 0,0% +11,3%
      ▸ semi-hard Italy 10 Nov 2025 0,0% +4,6%
      ▸ fresh Italy 10 Nov 2025 0,0% +6,8%
Cheeses Germany and Oceania 12 Nov 2025 -1,0% -12,9%
Butter Italy, Germany and Oceania 12 Nov 2025 -2,5% -28,4%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 14 Nov 2025 -0,3% -19,9%
Whey powder Germany and USA 14 Nov 2025 +2,4% +7,5%
  Feed input
      ▸ Corn Italy and USA 13 Nov 2025 +0,3% +2,1%
      ▸ Soybeans Italy and USA 13 Nov 2025 0,0% -2,2%
      ▸ GMO Soybean Meal Italy 13 Nov 2025 -0,5% +1,8%
Oil Europe 7 Nov 2025 -1,1% -15,0%
Retail price
PDO hard cheeses Italy Sep 2025 -1,7% +14,5%
Fresh cheeses Italy Sep 2025 -1,4% +5,0%
Butter Italy Sep 2025 -2,1% +6,9%
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: Jul 31, 2025 642.295 tons (-0.2% on Jun 30, 2025; +0.9% on Jul, 2024)
    · EU-27
    Consumption (Production + Import - Export): Aug 31,2025 0 tons (+49,5% on Jul 31, 2025; +50,6% on Aug, 2024)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Oct 31, 2025 1.895.577 number of wheels (+0,4% on 30 Sep 2025; +10,0% on Oct, 2024)
    - Total: Oct 31, 2025 6.401.126 number of wheels (-1,6% on 30 Sep 2025; +8,5% on Oct, 2024)

  • DRY WHEY Stocks
    · US Stock: Jul 31, 2025 22.937 tons (-12.0% rispetto a Jun 30, 2025; -20.7% rispetto a Jul, 2024)

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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:

  1. export share of production of Grana Padana, Parmigiano Reggiano and Gorgonzola cheeses,
  2. 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 period of the previous year

** 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: Consorzio Latterie Virgilio

Name:
Mascarpone 100% Italiano
Consortium:
Consorzio Latterie Virgilio S.A.C
Headquarter and Production Site:
Viale della Favorita, 19 - Mantova, Italy
Establishment year:
1966

It is a Top Quality Mascarpone. 100% Italian (as per the CSQA Certification): it is produced only and exclusively from italian fresh creams.
It is obtained thanks to the traditional method of production, without any additive. The flavour of Virgilio Mascarpone is traditional, delicate and natural, typical of the fresh cream.

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

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