FAO Dairy Price Index

The FAO Dairy Price Index averaged 117.4 points in June, down 1.7 points (1.5 percent) from May, and 38.1 points (24.5 percent) below its level in June 2025. Prices softened across all dairy products, although the underlying market conditions continued to diverge by product. Skim milk powder (SMP) prices declined slightly, ending a five-month run of increases, as recovering output in the European Union and improved availabilities in the United States of America coincided with easing demand after several months of price increases. Nonetheless, SMP remained the only dairy commodity trading well above its June 2025 level.  By contrast, whole milk powder prices declined as weak import demand from China continued to outweigh firm purchases from Southeast Asia and the Near East, despite seasonally tightening milk output in Oceania. Butter and cheese prices also declined, reflecting improving milk availability and increased butter and cheese production in the European Union and the United States of America, which supported greater export availability and intensified competition in international markets. Butter values remained under pressure from rising milkfat supplies, while cheese prices extended their downward trend for an eleventh consecutive month, as export supplies continued to exceed global import demand.

Download our data set with one click:

Related links