USDA Oceania Cheddar Cheese 02/26 11:00

AMS_1082 MARS

Cheese - Oceania

Released on February 26, 2026

Cheddar cheese prices in Oceania were mixed, edging higher at the low end and 
easing at the top. Increased export activity and firm global demand supported 
the market, while domestic values held steady amid reduced seasonal milk 
output. China lowered import duties on European Union cheese from rates as high 
as 43 percent to a maximum of 11.7 percent after completing its anti-subsidy 
investigation. Although European traders remain cautious, the revised tariffs 
provide meaningful relief and may temper New Zealand cheddar's competitiveness 
in China. Processor prices firmed, while Australian contacts reported steady 
values. 

Cheddar prices across all contract periods were mixed at Global Dairy Trade 
(GDT) Event 398, making it the only New Zealand product to decline overall at 
the auction. Volumes sold increased versus Event 397 and were above year-ago 
levels. The March near-term contract gained 2 percent but represented the 
second-lowest volume sold. More than 78 percent of cheddar traded was for April 
through June delivery, with prices ranging from up 0.3 percent in April to down 
3.9 percent in June. Southeast Asia/Oceania was the top purchasing region, 
followed by North Asia.

Prices for: Oceania, 39% Maximum Moisture, Free on Board - Port Cheese
Price Range - Dollars per Metric Ton: 4675 - 4750


Information for the period February 16 - 27, 2026, issued biweekly

Secondary Sourced Information:

New Zealand's latest trade data showed January 2026 cheese exports reaching 
39,662 metric tons, up 3.5 percent from a year earlier. 

At GDT Event 398 on February 17, 2026 the average cheddar price across all 
contract periods settled at $4,736 per metric ton, a 1 percent decline in the 
cheddar price index from the previous event. The March contract averaged $4,740 
per metric ton, with its index rising 2 percent. Additional details on cheddar 
prices at the event are available at the Global Dairy Trade website: 
https://www.globaldairytrade.info/en/product-results/cheddar/.

[0600059B]