Differences in farming systems can have an impact on the price outcome, even within a region. Find out more.
Learn more about the 2025/26 season and influences on this season’s farmgate milk prices.
Latest Australian Update
Bega Raises H1 Profits
Bega Cheese lifted revenue 5% YOY in first-half FY2026 to $1.9bn, with normalised EBITDA jumping 21% to $133.4m and profits after tax of $52.1m, up 45% YOY. Basic earnings rose to 17.1c per share, with a fully franked interim dividend of 7c per share. Across dairy...
Australian January Milk Production Rises
January milk production rose 1.5% YOY with seasonal data now tracking 1.2% behind the prior season comparable. This was an improvement on previous months. Across the states, output was mixed. In Victoria, production rose 1.6% YOY for the month. There was variation...
Below Average Rainfall in January
According to Dairy Australia’s January 2026 Production Inputs Monitor, most dairy regions had below-average rainfall in January, with declining soil moisture levels. Water levels in major Murray-Goulburn river system storages remained below the prior year except in...
Latest Global Update
US January Milk Hike
US January milk output rose 3.2% YOY, shy of expectations. Cow numbers were up 2% YOY with 1.2% YOY growth in average yield per cow, which was an eight-month low. The milking herd is still large – standing around +190,000 head above year-ago levels with 13,000 cows...
NZ January Solids Production Sets Record
Dairy farmers across New Zealand benefitted from a wet month as January milk production rose. Milk solids output increased 2.9% YOY, setting a new January solids record and bringing seasonal solids output +3.1% ahead of the prior season. Volume rose 2.0% YOY, while...
SMP Price Lifts, Fats Mixed on Pulse
This week’s Pulse event was mixed for powders and fats. Regular WMP C2 prices settled at US$3,655/t, unchanged from GDT #398, while Fonterra’s medium heat SMP C2 prices rose 2.3% on GDT #398 to US$3,050/t. The nearest futures prices for both powders settled higher...
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