𝐓𝐡𝐞 𝐈𝐅𝐂𝐍 𝐖𝐨𝐫𝐥𝐝 𝐌𝐢𝐥𝐤 𝐏𝐫𝐢𝐜𝐞 continued its increasing trend in May, with +2.3% growth compared to the previous month. The record high butter prices, the front-loading ahead of potential U.S. trade tariffs and a seasonal decline in milk production from Oceania, are driving this increase.

𝐁𝐮𝐭𝐭𝐞𝐫 𝐩𝐫𝐢𝐜𝐞𝐬 hit a new record high in May, with Oceanian prices rising by 3.8% month-on-month, supported by strong demand. Cheese prices are rising on strong demand, with limited supply amid seasonal milk declines in Oceania. WMP prices continue to rise, supported by firm export demand and stable milk volumes.

Global milk production grew modestly in May, still below the long-term average. Growth is led by the Americas—especially Latin America—while regions like the EU and China remain subdued.
Outlook is cautious amid disease risks, weather volatility, and tightening environmental rules.

100kg milk +4.6% vs previous month

cwt

kg milk solids

litre