Key Highlights
- IFCN World Milk Price fell by 2.5% in June 2025, marking its first decline this year.
- Export demand is softening, as uncertainty surrounding global milk demand persists.
- Geopolitical tensions continue to exert downward pressure on dairy prices worldwide.
Dairy Commodity Prices: Butter Diverges
- Butter prices set a new record high for the fourth consecutive month, exceeding $7,900 USD/ton.
- All other major dairy commodities declined in price, indicating possible market saturation.
- Many buyers are delaying purchases, anticipating additional price reductions in the near future.
Global Milk Supply Trends
- Global milk production is strengthening, with most regions ramping up output.
- Oceania is currently at the seasonal low for milk production, leading to tight inventories. However, expectations for a robust upcoming season could prompt further drops in international milk prices.
- European Union maintains moderate growth in milk supply.
- The Americas are experiencing significant increases in milk output, supplying more milk year-over-year.
Market Balance: An Uncertain Outlook
- The dairy market remains unbalanced, with no clear dominance from either the demand or supply side.
- Price volatility continues as producers and buyers navigate evolving economic and geopolitical landscapes.
Read more about IFCN World milk Price Indicator
Based on the weighted average of 3 IFCN world milk price indicators:
1. SMP & butter (~32%),
2. Cheese & whey (~51%),
3. WMP (~17%), based on quarterly updated shares of the related commodities traded on the world market
IFCN upcoming dairy events
Events calendar
2
December
IFCN x HighGround Dairy Forum | Online, 2 December 3:30PM CEST
Navigating the dairy landscape -
Insights for the future
21
January 2026
Progressive Dairy x IFCN | Online, 21 January 2026 15:30 CET
The global dairy tech briefing 2026
The only global overview of dairy tech companies & trends!