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

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

​Last updated: 29 March 2019
112
​Preliminary April 2019 estimate
2%​
​Since March 2019
11%​
Since April 2018
101​​-115​​
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.

Share your feedback

Consultation on the review of the MPI has now closed.

Thank you to all the stakeholders who took the time to share their views on the MPI.

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 11% between January 2019 and February 2019 (the last month for which data on Australian exports is available). SMP prices rose by 5%, WMP prices rose by 9%, butter rose by 12% and cheese prices remained relatively unchanged.

Preliminary estimates based on movements in the GDT Price Index suggest the CMPI fell 2% between February and April 2019.

The CMPI is forecast to fall to 108 in June 2019, before continuing its upward trend in late 2019 and early 2020. The CMPI is forecast to be around 1% above current levels in April 2020. Export demand – including for dairy products – is expected to improve from the start of 2020, although export demand conditions are anticipated to worsen slightly in 2019 before they improve.

In global trade news:

  • EU: US president threatens retaliatory tariffs on EU products (inc. dairy)– Read more
  • US: US and Japan begin trade talks– Read more
  • Asia: Growing milk consumption in China comes at a cost– Read more

Download

DocumentPagesFile size
Dairy Bulletin April 2019 PDF 4328 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 March 2019 PDF 4328 KB
Dairy Bulletin February 2019 PDF 4328 KB
Dairy Bulletin January 2019 PDF 4425 KB
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
5,822 ​​$/tonne​
February 2019 value
~0%​
Jan 2019–Feb 2019 change
4% ​
Feb 2018-Feb 2019 change
5,561-6,138 ​$/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.

Share your feedback

Consultation on the review of the MPI has now closed.

Thank you to all the stakeholders who took the time to share their views on the MPI.

Economic commentary

The February average Australian cheese exports prices remained relatively unchanged compared to the previous month reaching AUD 5,822 /tonne. This was 4% higher than the corresponding average for February 2018.

Since February, global cheese prices have increased. In April 2019, cheddar cheese averaged USD 4,284/tonne in Global Dairy Trade events, 18% above the February 2019 average.

Download

DocumentPagesFile size
Dairy Bulletin April 2019 PDF 4328 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 March 2019 PDF 4328 KB
Dairy Bulletin February 2019 PDF 4328 KB
Dairy Bulletin January 2019 PDF 4425 KB
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
6,536 ​​$/tonne​
February 2019 value
12%​
Jan 2019-Feb 2019 change
19% ​
Feb 2018-Feb 2019 change
5,851-8,431 ​$/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.

Share your feedback

Consultation on the review of the MPI has now closed.

Thank you to all the stakeholders who took the time to share their views on the MPI.

Economic commentary

The February average Australian butter export price rose 12% on the previous month reaching AUD 6,536 /tonne in February 2019. This is 19% lower than the corresponding February 2018 average.

Since February, global butter prices have increased. In April 2019, butter averaged USD 5,459/tonne in Global Dairy Trade events, 22% above the February 2019 average.

Download

DocumentPagesFile size
Dairy Bulletin April 2019 PDF 4328 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 March 2019 PDF 4328 KB
Dairy Bulletin February 2019 PDF 4328 KB
Dairy Bulletin January 2019 PDF 4425 KB
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
3,101 ​​$/tonne​
February 2019 value
5%
Jan 2019-Feb 2019 change
8%
Feb 2018-Feb 2019 change
2,777-3,126 ​$/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.

Share your feedback

Consultation on the review of the MPI has now closed.

Thank you to all the stakeholders who took the time to share their views on the MPI.

Economic commentary

The February average Australian SMP export price rose by 5% on the previous month reaching AUD 3,101 /tonne in February 2019. This is 8% higher than the corresponding February 2018 average.

Since February, global SMP prices have decreased. In April 2019, skim milk powder averaged USD 2,465/tonne in Global Dairy Trade events, 4% below the February 2019 average.

Download

DocumentPagesFile size
Dairy Bulletin April 2019 PDF 4328 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 March 2019 PDF 4328 KB
Dairy Bulletin February 2019 PDF 4328 KB
Dairy Bulletin January 2019 PDF 4296 KB
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
7,206 ​​$/tonne​
February 2019 value
9%​
Jan 2019-Feb 2019 change
26% ​
Feb 2018-Feb 2019 change
5,728-7,325 ​$/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.

Share your feedback

Consultation on the review of the MPI has now closed.

Thank you to all the stakeholders who took the time to share their views on the MPI.

Economic commentary

The February average Australian WMP export price rose by 9% from the previous month, reaching AUD 7,206/tonne in February 2019. This is 26% higher than the corresponding average in February 2018.

Since February, global WMP prices have increased. In April 2019, WMP averaged USD 3,278/tonne in Global Dairy Trade events, 8% above the February 2019 average.

Download

DocumentPagesFile size
Dairy Bulletin April 2019 PDF 4328 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 March 2019 PDF 4328 KB
Dairy Bulletin February 2019 PDF 4328 KB
Dairy Bulletin January 2019 PDF 4425 KB
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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