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

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

​Last updated: 31 August​​ 2018
100
​Preliminary August estimate
2%​ ​
​Since July 2018
4%
Since August 2017
96​​-103​​
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) remained unchanged between May and June 2018 (the last month for which data on Australian exports is available). A 1% increase in cheese prices (Australia’s largest dairy export by value) was offset by contractions in WMP (down 2%), butter (6%) and SMP (1%) prices.

Preliminary estimates based on movements in the GDT Price Index suggest the CMPI may have declined 2% from June to July 2018.

The CMPI is forecast to decrease over the next year, with a 4% year-on-year price decrease forecast for July 2019.

Deloitte Access Economics forecasts lower prices for Australia’s exports overall, including rural export prices. This, despite the recent history of CMPI increases, leads to the 12 month forecast for the CMPI being relatively steady or declining moving forward.

In global trade news:

  • Dry seasonal conditions in Europe has constrained growth in EU milk production in 2018. This is providing some support to international dairy prices, particularly butter, which remains in low supply – read more.
  • Relatively weak El Nino conditions expected to affect New Zealand in the coming 2018–19 summer, although possible effects on dairy production remain unclear – read more.
  • The expansion of the US dairy herd slowed in July 2018 with producers facing low prices and increasing uncertainty in major export markets – read more.

Download

DocumentPagesFile size
Dairy Bulletin August 2018 PDF 4266KB

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 July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
5,634 ​​$/tonne​
​June value
1%​
​May-June 2018 change
6% ​
​June 2017-June 2018 change
5,237-5,755 ​$/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 Australian cheese average export price rose 1% to 5,634 AUD/tonne in June 2018. This is 6% higher than the corresponding June average last year.

Since June, global cheese prices have decreased. In August 2018, cheddar cheese averaged USD 3,573/tonne in Global Dairy Trade events, 9% below the June 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin August 2018 PDF 4266KB

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 July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
7,960 ​​$/tonne​
​May value
6%​
​May-June 2018 change
15% ​
​June 2017-June 2018 change
6,570-8,431 ​$/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 Australian butter average export price fell 6% on the previous month to 7,960 AUD/tonne in June 2018. This is 15% higher than the corresponding May average last year.

Since June, global butter prices have decreased. In August 2018, butter averaged USD 4,597/tonne in Global Dairy Trade events, 18% below the June 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin August 2018 PDF 4266KB

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 July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
2,838 ​​$/tonne​
​June value
1%
​May-June 2018 change
6% ​
June 2017-June 2018 change
2,777-3,100 ​$/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 Australian SMP average export price fell 1% to 2,838 AUD/tonne in June 2018. This is 6% below the corresponding June average last year.

Since June, global SMP prices have decreased. In August 2018, SMP averaged USD 1,962/tonne in Global Dairy Trade events, 3% below the June 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin August 2018 PDF 4266KB

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 July 2018 PDF 4272KB
Dairy Bulletin June 2018 PDF 4266KB
6,914 ​​$/tonne​
​June value
2%​
​May-June 2018 change
19% ​
​June 2017-June 2018 change
5,109-7,037 ​$/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 Australian WMP average export price fell by 2% on the previous month to AUD 6,914/tonne in June 2018. This is 19% higher than the corresponding June average last year.

Since June, global WMP prices have decreased. In August 2018, WMP averaged USD 2,921/tonne in Global Dairy Trade events, 9% below the June 2018 average.

Download

DocumentPagesFile size
Dairy Bulletin August 2018 PDF 4266KB

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 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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