USDA Oceania Whole Milk Powder 08/14 09:30

AMS_1039 MARS

Whole Milk Powder - Oceania

Released on August 14, 2025

The range of prices for Oceania whole milk powder (WMP) shifted lower and 
tightened during the reporting period, with a larger decline at the top end of 
the price range. Production is picking up again after the seasonal decline in 
milk production during June and July as cows are dried off for the Oceania 
winter. Export demand is strong, driven by demand for deliveries later in the 
Oceania spring flush. 

A report from the USDA Foreign Agricultural Service (FAS) projects WMP 
production in New Zealand will remain steady relative to 2024 levels, but FAS 
expects the share of milk input used to produce WMP to fall as processors 
prioritize production of higher-valued dairy products. FAS also projects an 
increase in WMP exports from New Zealand, in part due to demand from China, 
where WMP production is expected to fall.

At GDT event 385, WMP outperformed expectations based on Oceania futures 
markets. The WMP price index increased by 2.1 percent, with contracts for 
October through January seeing increased prices over the previous event. The 
only price index that fell was for the September contract, which decreased by 
4.8 percent. Volumes sold at GDT event 385 were much higher than at event 384, 
but in line with sales during the same time period a year ago. The strength of 
WMP export prices led to an increase in forecasts of the New Zealand milk price 
for the 2025/2026 season.

Prices for: Oceania, All First Sales, Free on Board - Port, Edible Whole Milk 
Powder
Price Range - 26% Butterfat; Dollars per Metric Ton: 3900 - 4050


Information for the period August 4 - 15, 2025, issued biweekly

Secondary Sourced Information:

During GDT event 385 on August 5, 2025, the average price for WMP across all 
contract periods was $4,012 per metric ton, corresponding to a 2.1 percent 
increase in the WMP price index from the prior event. The average price for the 
September contract was $4,105 per metric ton, with the September price index 
down 4.8 percent. More information on WMP prices at the most recent event can 
be found at 
https://www.globaldairytrade.info/en/product-results/whole-milk-powder/.

Dairy Australia recently released export data for Australia showing whole milk 
powder (WMP) export volumes from July 2024 - June 2025 were 62,351 metric tons, 
up 28.9 percent from the same time period a year earlier.

[0600059B]