USDA Oceania Whole Milk Powder 09/11 09:40

AMS_1039 MARS

Whole Milk Powder - Oceania

Released on September 11, 2025

The low end of the price range for Oceania whole milk powder (WMP) fell 
substantially during the reporting period, while the high end of the range 
exhibited a more modest decline. Though WMP prices consistently outperformed 
expectations in recent weeks, prices declined in response to expanding supply 
conditions, both in Oceania and other major dairy producing regions. The start 
of the 2025-26 milk production season in New Zealand set new records, and milk 
output is continuing to increase as the country enters spring flush and 
approaches a seasonal peak in October. As a result, WMP production is strong 
and inventories are readily available. In addition, milk supplies are plentiful 
globally due to strong year-over-year growth in milk production in South 
America and continued production strength in the U.S. and E.U., despite 
approaching seasonal lows. Overall, strong milk supply conditions are likely to 
put downward pressure on WMP prices. 

Domestic demand is stable while export demand is mixed as buying increased in 
some regions and declined in others. At GDT event 387, the North Asia region, 
which includes China, bought 53 percent of the WMP available at the auction, 
increasing the volume purchased compared to GDT event 386. At the same time, 
the quantity purchased by the Southeast Asia, Oceania, and Middle East regions 
declined. Additionally, the total quantity of WMP sold at GDT event 387 
increased over the previous event and was higher than the same time last year. 
Due to the higher volumes available and mixed demand conditions, prices 
declined across all contracts traded.

Prices for: Oceania, All First Sales, Free on Board - Port, Edible Whole Milk 
Powder
Price Range - 26% Butterfat; Dollars per Metric Ton: 3725 - 4000


Information for the period September 1 - 12, 2025, issued biweekly

Secondary Sourced Information:

During GDT event 387 on September 2, 2025, the average price for WMP across all 
contract periods was $3,809 per metric ton, corresponding to a 5.3 percent 
decrease in the WMP price index from the prior event. The average price for the 
October contract was $3,985 per metric ton, with the October price index down 
3.7 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/. 

Dairy Australia recently released export data for Australia showing whole milk 
powder (WMP) export volumes in July 2025 totaled 4,908 metric tons, down 9.8 
percent year over year.

[0600059B]