International Farm Gate Milk Prices
Together, we strive to foster a more transparent and informed dairy industry across Europe.
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International Comparison of Producer Prices for Milk
- Transparency in milk pricing
- Enhance understanding of industry dynamics
- Serving as a critical foundation for knowledge creation and exchange
MILK PRICE REVIEW DECEMBER 2024
EU Dairy Prices Climb as Global Markets Diverge
The average EU advance milk price reached €50.86 per 100 kg in December 2024, a €0.51 (1%) increase from November and over 21% higher than the previous year. This marks the continuation of an upward trend since October 2023, driven by higher valuation of fat and protein. In contrast, milk prices declined in both the US and New Zealand. In New Zealand, the decrease reflected overall price trends, while in the US, it was primarily due to lower protein prices.
EU milk supply growth accelerated to 1.8% in November, significantly outpacing September and October. A strong rebound in Ireland (+34%) drove the increase, with continued growth in France and Poland. However, declines persisted in some Western European countries (Belgium, Germany, and the Netherlands). Overall EU milk supply rose 0.8% through November 2024 compared to the same period last year.
Globally, New Zealand’s milk production increased 2.1%, while Australia (-0.2%) and the US (-1.0%) saw declines. Argentina’s output rose 1.5% after a prolonged contraction, while Uruguay experienced a 1% decrease. Total milk production from major dairy exporters (including the EU) was up 0.3% year-to-date through November.
The German dairy market has shown resilience despite the FMD outbreak in mid-January. Butter quotations, which had declined in December, recovered in January due to tight supply and low stock levels. While some price stabilization was observed towards the end of the month, the overall trend remained positive. Skimmed milk powder prices held steady throughout January. Although buyer interest appears to have softened slightly, possibly due to uncertainties surrounding the FMD outbreak, this has not translated into lower prices.
