USDA Oceania Whole Milk Powder 02/12 09:55

AMS_1039 MARS

Whole Milk Powder - Oceania

Released on February 12, 2026

Oceania whole milk powder (WMP) prices strengthened at the top and bottom of 
the price range, supported by tightening inventories as seasonal milk 
production tapered. Output remains steady to lighter, consistent with typical 
seasonal patterns, which has contributed to reduced availability and upward 
price pressure. European WMP continues to command a slight premium over Oceania 
product. Export demand was firm, driven by considerably lower offer volumes 
from New Zealand, while domestic markets also reflected stronger prices. 
Processor prices advanced, and the domestic futures curve shifted higher across 
all contracts.

At Global Dairy Trade (GDT) Event 397, WMP price indices rose across all 
offered contracts, with March through June deliveries increasing by at least 
4.5%, while no product was offered for July and August. Seasonal supply 
tightening and materially lower European WMP production limited alternative 
origins, reinforcing reliance on New Zealand supply and pushing prices beyond 
futures market expectations due to reduced spot volumes. WMP sales volume was 
slightly higher than at Event 396 but remained below Event 373 a year ago. 
North Asia led purchases, with volumes up from both the prior event and last 
year, followed by the Middle East and Southeast Asia/Oceania.

Prices for: Oceania, All First Sales, Free on Board - Port, Edible Whole Milk 
Powder
Price Range - 26% Butterfat; Dollars per Metric Ton: 3400 - 3600


Information for the period February 2 - 13, 2026, issued biweekly

Secondary Sourced Information:

Dairy Australia recently released export data for Australia showing whole milk 
powder (WMP) export volumes from July - December 2025 totaled 30,748 metric 
tons, a decrease of 7.4 percent compared to export volume totals from July - 
December 2024.

During GDT event 397 on February 3, 2026, the average price for WMP across all 
contract periods was $3,614 per metric ton, corresponding to a 5.3 percent 
increase in the WMP price index from the prior event. The average price for the 
March contract was $3,589 per metric ton, with the March price index up 5.7 
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/.

[0600059B]