Helping Australian dairy farmers better understand and interpret commodity milk pricing and market signals.

​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Milk Pri​ce Index

​Last updated: 31 January 2019
100
​Preliminary January 2019 estimate
2%​
​Since December 2018
5%​
Since January 2018
96​​-109​​
12 month range

Commodity milk ​price index

This chart shows the history of the CMPI from July 2008 to April 2018, the now-casts for May, June and July 2018, and the forecasts out to June 2019. The index is estimated to be 98 in June 2018, and forecast to be 95 in June 2019 (a 3% decrease).  

About

The Milk Price Index (MPI) is another source of information dairy farmers can use to inform their business decisions. It will help farmers to understand and interpret market signals. Updates to this site will be monthly.​

The MPI includes:

  • An Australian Commodity Milk Price Index of export prices for cheese, butter, skim milk powder (SMP) and whole milk powder (WMP), plus a one-year forecast.
  • A Regional, Retrospective Farmgate Milk Price Index with data coming from dairy farmers.
  • Regular global, national and regional commentary to go with the indexes.​

For information to explain the indexes, see our education resources.

The MPI is part of the Australian Government’s Dairy Support Package.

How to use the Milk Price Index website

​​For information to explain the Milk Price Index, see our video resources and transcripts.

Economic commentary

The Commodity Milk Price Index (CMPI) fell by 2% between October and November 2018 (the last month for which data on Australian exports is available). The price of all commodities fell with cheese down 1%, butter down 11%, WMP down 2% prices and SMP down 3%.

Preliminary estimates based on movements in the GDT Price Index suggest the CMPI rose 7% from November 2018 to January 2019.

The CMPI is forecast to be 8% lower in January 2020 compared to January 2019. This reflects Deloitte Access Economics’ forecast for a decline in prices for Australia’s exports overall, including rural export prices.

In global trade news:

  • EU: European Dairy Association warns of the “catastrophic” impacts of a no-deal Brexit on dairy industry – Read more
  • US: The 2018 Farm Bill and growing demand from China allow for cautious optimism amongst US dairy farmers – Read more
  • NZ: Dairy sector contributes $8.2 billion to New Zealand’s GDP and is the country’s 5th largest industry – Read more

Download

DocumentPagesFile size
Dairy Bulletin January 2019 PDF 4425 KB

We do not own this publication, and it may not meet accessibility requirements. You can contact the author for an accessible version. For more information, visit web accessibility.

Previous bulletins

DocumentPagesFile size
Dairy Bulletin December 2018 PDF 4296 KB
Dairy Bulletin November 2018 PDF 4316 KB
Dairy Bulletin October 2018 PDF 4176 KB
Dairy Bulletin September 2018 PDF 4275 KB
Dairy Bulletin August 2018 PDF 4266 KB
Dairy Bulletin July 2018 PDF 4272 KB
Dairy Bulletin June 2018 PDF 4266 KB
6,037 ​​$/tonne​
​November value
1%​
Oct-Nov 2018 change
9% ​
Nov 2017-Nov 2018 change
5,504-6,098 ​$/tonne​
​​12 month range​​

Cheese price chart

This chart shows how the price of Australia’s cheese exports have changed from July 2008 to April 2018. Over this period, cheese prices increased from $5,478 per tonne to $5,564 per tonne.  

About

The Milk Price Index (MPI) is another source of information dairy farmers can use to inform their business decisions. It will help farmers to understand and interpret market signals. Updates to this site will be monthly.

The MPI includes:

  • An Australian Commodity Milk Price Index of export prices for cheese, butter, skim milk powder (SMP) and whole milk powder (WMP), plus a one-year forecast.
  • A Regional, Retrospective Farmgate Milk Price Index with data coming from dairy farmers.
  • Regular global, national and regional commentary to go with the indexes.

For information to explain the indexes, see our education resources.

The MPI is part of the Australian Government’s Dairy Support Package.

Economic commentary

The average November Australian cheese export price fell marginally compared to the previous month at 6,037 AUD/tonne. This was 9% higher than the corresponding November average last year.

Since November, global cheese prices have increased. In January 2019, cheddar cheese averaged USD 3,437/tonne in Global Dairy Trade events, 6% above the November 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin January 2019 PDF 4425 KB

We do not own this publication, and it may not meet accessibility requirements. You can contact the author for an accessible version. For more information, visit web accessibility.

Previous bulletins

DocumentPagesFile size
Dairy Bulletin December 2018 PDF 4296 KB
Dairy Bulletin November 2018 PDF 4176 KB
Dairy Bulletin October 2018 PDF 4176 KB
Dairy Bulletin September 2018 PDF 4275KB
Dairy Bulletin August 2018 PDF 4266KB
Dairy Bulletin July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
6,320 ​​$/tonne​
​November value
11%​
Oct-Nov 2018 change
15% ​
Nov 2017-Nov 2018 change
6,320-8,431 ​$/tonne​
​​12 month range​​

Butter price chart

This chart shows how the price of Australia’s butter exports have changed from July 2008 to April 2018. Over this period, butter prices increased from $4,377 per tonne to $7,831 per tonne.  

About

The Milk Price Index (MPI) is another source of information dairy farmers can use to inform their business decisions. It will help farmers to understand and interpret market signals. Updates to this site will be monthly.

The MPI includes:

  • An Australian Commodity Milk Price Index of export prices for cheese, butter, skim milk powder (SMP) and whole milk powder (WMP), plus a one-year forecast.
  • A Regional, Retrospective Farmgate Milk Price Index with data coming from dairy farmers.
  • Regular global, national and regional commentary to go with the indexes.

For information to explain the indexes, see our education resources.

The MPI is part of the Australian Government’s Dairy Support Package.

Economic commentary

The average Australian butter export price fell 11% on the previous month to AUD 6,320 /tonne in November 2018. This is 15% lower than the corresponding November average last year.

Since November, global butter prices have increased. In January 2019, butter averaged USD 4,169 /tonne in Global Dairy Trade events, 9% above the November 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin January 2019 PDF 4425 KB

We do not own this publication, and it may not meet accessibility requirements. You can contact the author for an accessible version. For more information, visit web accessibility.

Previous bulletins

DocumentPagesFile size
Dairy Bulletin December 2018 PDF 4296 KB
Dairy Bulletin November 2018 PDF 4176KB
Dairy Bulletin October 2018 PDF 4176KB
Dairy Bulletin September 2018 PDF 4275KB
Dairy Bulletin August 2018 PDF 4266KB
Dairy Bulletin July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
3,028 ​​$/tonne​
​November value
3%
​Oct-Nov 2018 change
0%
Nov 2017-Nov 2018 change
2,777-3,126 ​$/tonne​
​​12 month range​​

Skim milk powder price chart

This chart shows how the price of Australia’s SMP exports have changed from July 2008 to April 2018. Over this period, SMP prices decreased from $3,148 per tonne to $2,859 per tonne.  

About

The Milk Price Index (MPI) is another source of information dairy farmers can use to inform their business decisions. It will help farmers to understand and interpret market signals. Updates to this site will be monthly.

The MPI includes:

  • An Australian Commodity Milk Price Index of export prices for cheese, butter, skim milk powder (SMP) and whole milk powder (WMP), plus a one-year forecast.
  • A Regional, Retrospective Farmgate Milk Price Index with data coming from dairy farmers.
  • Regular global, national and regional commentary to go with the indexes.

For information to explain the indexes, see our education resources.

The MPI is part of the Australian Government’s Dairy Support Package.

Economic commentary

The average Australian SMP export price fell 3% to AUD 3,028 /tonne in November 2018. This is equal to the corresponding November average last year.

Since November, global SMP prices have increased. In January 2019, skim milk powder averaged USD 2,303/tonne in Global Dairy Trade events, 16% above the November 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin January 2019 PDF 4296 KB

We do not own this publication, and it may not meet accessibility requirements. You can contact the author for an accessible version. For more information, visit web accessibility.

Previous bulletins

DocumentPagesFile size
Dairy Bulletin December 2018 PDF 4296 KB
Dairy Bulletin November 2018 PDF 4176KB
Dairy Bulletin October 2018 PDF 4176KB
Dairy Bulletin September 2018 PDF 4275KB
Dairy Bulletin August 2018 PDF 4266KB
Dairy Bulletin July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
6,075 ​​$/tonne​
October value
2%​
​Oct-Nov 2018 change
3% ​
Nov 2017-Nov 2018 change
5,109-7,325 ​$/tonne​
​​12 month range​​

Whole milk powder price chart

This chart shows how the price of Australia’s WMP exports have changed from July 2008 to April 2018. Over this period, WMP prices increased from $4,552 per tonne to $6,371 per tonne.  

About

The Milk Price Index (MPI) is another source of information dairy farmers can use to inform their business decisions. It will help farmers to understand and interpret market signals. Updates to this site will be monthly.

The MPI includes:

  • An Australian Commodity Milk Price Index of export prices for cheese, butter, skim milk powder (SMP) and whole milk powder (WMP), plus a one-year forecast.
  • A Regional, Retrospective Farmgate Milk Price Index with data coming from dairy farmers.
  • Regular global, national and regional commentary to go with the indexes.

For information to explain the indexes, see our education resources.

The MPI is part of the Australian Government’s Dairy Support Package.

Economic commentary

The average Australian WMP export price fell 2% on the previous month to AUD 6,075 /tonne in November 2018. This is 3% higher than the corresponding November average last year.

Since November, global WMP prices have increased. In January 2019, WMP averaged USD 2,741/tonne in Global Dairy Trade events, 4% above the November 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin January 2019 PDF 4425 KB

We do not own this publication, and it may not meet accessibility requirements. You can contact the author for an accessible version. For more information, visit web accessibility.

Previous bulletins

DocumentPagesFile size
Dairy Bulletin December 2018 PDF 4296 KB
Dairy Bulletin November 2018 PDF 4176KB
Dairy Bulletin October 2018 PDF 4176KB
Dairy Bulletin September 2018 PDF 4275KB
Dairy Bulletin August 2018 PDF 4266KB
Dairy Bulletin July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB

Regional analysis

This section provides information for the eight dairy regions on factors that impact milk prices, production and on-farm costs.

 
Expand a​ll

Farmgate prices

Our commitment

The Regional, Retrospective Farmgate Milk Price Index relies on dairy farmers providing the prices they actually receive as per their milk statement. The more dairy farmers that take part, the more valuable this index will be. Once we have enough data, we’ll report an average and a range of actual prices received for each region.

We are asking for an ABN to help us verify data, and email addresses are only for notifying you of updates. You can find more information in our Privacy Statement.

If you have any problems filling out the form, please email milkpriceindex@agriculture.gov.au.

Submit your data

Enter your base price for $/kg MS or c/L and your base c/kg fat and c/kg protein price.

If your milk statement does not report one of the base prices, just enter ‘0’ in the appropriate field. We’ll apply a standard butterfat and protein test to convert to $/kg MS and c/L if required.

* represents mandatory field
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