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

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

​Last updated: 06 July​​ 2018
98
​Preliminary June estimate
1%​ ​
​Since May 2018
1​​​%
Since June 2017
96​​-101​​
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.

Economic commentary

The Commodity Milk Price Index (CMPI) increased 1% from March to April 2018 (the last month for which data on Australian exports is available). This was driven by declining prices for butter (down 5%) and cheese (down 3%). Prices for skim milk powder (SMP) and whole milk powder (WMP) increased by 3% and 11%, respectively, from March to April.

Preliminary estimates based on movements in the Global Dairy Trade (GDT) Price Index suggest the CMPI may have declined 3% from April to June 2018.

The CMPI is forecast to decrease over most of the next 12 months, and be 3% lower in June 2019.

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

Download

DocumentPagesFile size
Dairy Bulletin June 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.

5,564 ​​$/tonne​
​April value
3%​
​March-April 2018 change
4% ​
​April 2017-April 2018 change
5,237-5,755 ​$/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 Commodity Milk Price Index (CMPI) increased 1% from March to April 2018 (the last month for which data on Australian exports is available). This was driven by declining prices for butter (down 5%) and cheese (down 3%). Prices for skim milk powder (SMP) and whole milk powder (WMP) increased by 3% and 11%, respectively, from March to April.

Preliminary estimates based on movements in the Global Dairy Trade (GDT) Price Index suggest the CMPI may have declined 3% from April to June 2018.

The CMPI is forecast to decrease over most of the next 12 months, and be 3% lower in June 2019.

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

Download

DocumentPagesFile size
Dairy Bulletin June 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.

7,831 ​​$/tonne​
​April value
6%​
​March-April 2018 change
25% ​
​April 2017-April 2018 change
6,426-8,289 ​$/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 Commodity Milk Price Index (CMPI) increased 1% from March to April 2018 (the last month for which data on Australian exports is available). This was driven by declining prices for butter (down 5%) and cheese (down 3%). Prices for skim milk powder (SMP) and whole milk powder (WMP) increased by 3% and 11%, respectively, from March to April.

Preliminary estimates based on movements in the Global Dairy Trade (GDT) Price Index suggest the CMPI may have declined 3% from April to June 2018.

The CMPI is forecast to decrease over most of the next 12 months, and be 3% lower in June 2019.

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

Download

DocumentPagesFile size
Dairy Bulletin June 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.

2,859 ​​$/tonne​
​April value
3%​
​March-April 2018 change
15% ​
​April 2017-April 2018 change
2,777-3,350 ​$/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 Commodity Milk Price Index (CMPI) increased 1% from March to April 2018 (the last month for which data on Australian exports is available). This was driven by declining prices for butter (down 5%) and cheese (down 3%). Prices for skim milk powder (SMP) and whole milk powder (WMP) increased by 3% and 11%, respectively, from March to April.

Preliminary estimates based on movements in the Global Dairy Trade (GDT) Price Index suggest the CMPI may have declined 3% from April to June 2018.

The CMPI is forecast to decrease over most of the next 12 months, and be 3% lower in June 2019.

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

Download

DocumentPagesFile size
Dairy Bulletin June 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.

6,371 ​​$/tonne​
​April value
11%​
​March-April 2018 change
11% ​
​April 2017-April 2018 change
5,109-6,756 ​$/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 Commodity Milk Price Index (CMPI) increased 1% from March to April 2018 (the last month for which data on Australian exports is available). This was driven by declining prices for butter (down 5%) and cheese (down 3%). Prices for skim milk powder (SMP) and whole milk powder (WMP) increased by 3% and 11%, respectively, from March to April.

Preliminary estimates based on movements in the Global Dairy Trade (GDT) Price Index suggest the CMPI may have declined 3% from April to June 2018.

The CMPI is forecast to decrease over most of the next 12 months, and be 3% lower in June 2019.

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

Download

DocumentPagesFile size
Dairy Bulletin June 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.

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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