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Market News

World

US: Farm gate milk price In aumento +5,58%
US: Cheese 40# Blocks price In calo -1,99%
US: Butter, Grade AA price In aumento +8,63%
US: Acid Casein price In aumento +3,26%
US: Rennet Casein price In aumento +3,16%
US: Whey Protein Concentrate (34%) price In aumento +2,78%

Europe

France: SMP price (Poudre 0%) In calo -0,75%
France: Butter price (82%) In calo -0,13%
Netherlands: Skim Milk Powder feed price In calo -4,29%
Netherlands: Skim Milk Powder (Adpi-SMP) price In calo -4,39%
Netherlands: Whole Milk Powder (WMP) price In calo -0,62%
Netherlands: Butter price (82%) In calo -1,02%

Italy

IT, Parma: Churned butter price In aumento +2,14%
IT, Mantua: Grana Padano PDO (10 months) price In aumento +0,53%
IT, Mantua: Grana Padano PDO (14-16 months) price In aumento +0,47%
IT, Verona: foreign Whole Spot Milk price In aumento +8,93%
IT, Verona: foreign Skim Spot Milk price In aumento +30,77%
IT, Verona: Spot milk price In aumento +10,14%
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-Mar 2026 on Jan-Mar 2025
EU-27
+1.659
-16
+89
+67
+1.487
New Zealand
+331
+1
+15
0
+317
USA
+786
-78
+409
+841
-541
United Kingdom
+123
+53
+161
+17
-2
Australia
+31
+15
-63
+7
+102
Argentina
+235
+2
+142
+74
+22
Uruguay
+38
+4
-24
0
+65
Chile
+26
+29
+28
+2
+26
TOTAL
+3.230
+9
+756
+1.007
+1.476

Last update: 2026-05-21
(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
(2026-05-29)
OCEANIA
(2026-05-22)
EU¹
(2026-06-03)
GDT²
(2026-06-02)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.252 -2,0% 4.638 -1,9% 3.646 +0,3% 4.755 +3,2%
BUTTER 3.676 +8,6% 5.863 -1,5% 4.718 +4,0% 5.926 +3,2%
SMP 4.828 -3,7% 3.688 +2,8% 3.396 -0,2% 3.407 -3,8%
WMP 5.346 +1,0% 3.750 +1,4% 3.844 +0,1% 3.738 -0,5%
WHEY POWDER 1.411 0,0%     2.213 +0,9%    
MILK (US$/100Kg) 45,86 +5,6% 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
(2026-05-29)
OCEANIA
(1779400800)
EU¹
(2026-06-03)
GDT²
(2026-06-02)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 2.799 -2,1% 4.000 -0,4% 3.145 +0,5% 4.083 +3,2%
BUTTER 3.165 +8,5% 5.056 -0,1% 4.050 +3,8% 5.088 +3,2%
SMP 4.146 -4,1% 3.180 +4,3% 2.915 -0,3% 2.925 -3,8%
WMP 4.591 +0,6% 3.234 +2,8% 3.300 0,0% 3.210 -0,5%
WHEY POWDER 1.212 -0,4%     1.900 +0,8%    
MILK (€/100Kg) 39,17 +4,2% 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 25 May 2026 +8,8% -42,4%
      ▸ farm-gate EU (13 country) Apr 2026 -2,4% -19,2%
      ▸ farm-gate USA Apr 2026 +4,2% -5,6%
  PDO cheeses…
      ▸ hard Italy 28 May 2026 +0,1% +4,8%
      ▸ semi-hard Italy 25 May 2026 0,0% -2,7%
      ▸ fresh Italy 25 May 2026 0,0% -3,9%
Cheeses Germany and Oceania 3 Jun 2026 -0,1% -9,0%
Butter Italy, Germany and Oceania 3 Jun 2026 +1,4% -39,8%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 3 Jun 2026 -1,2% +29,9%
Whey powder Germany and USA 3 Jun 2026 -0,2% +44,2%
  Feed input
      ▸ Corn Italy and USA 28 May 2026 -0,5% +0,0%
      ▸ Soybeans Italy and USA 28 May 2026 -0,9% +4,7%
      ▸ GMO Soybean Meal Italy 28 May 2026 -3,2% +35,7%
Oil Europe 22 May 2026 +0,1% +67,9%
Retail price
PDO hard cheeses Italy Apr 2026 -2,9% 0,0%
Fresh cheeses Italy Apr 2026 -0,8% -1,8%
Butter Italy Apr 2026 -2,4% -11,6%
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, 2026 643.041 tons (+0.9% on Mar 31, 2026; -0.9% on Apr, 2025)
    · EU-27
    Consumption (Production + Import - Export): Mar 31,2026 0 tons (+30,8% on Feb 28, 2026; +46,1% on Mar, 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

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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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