Australian dairy exports remain weak in January

Australian dairy exports remained weak in January, declining by 8.47% year on year, equivalent to 20 million kg LME. This followed a steeper decline of 17.28% in December 2025, equal to 52 million kg LME. In commodity tonnage terms, exports fell by 5.60%, or 1,480 tonnes. Most product categories recorded lower export volumes in January. The main exceptions were SMP, whey, lactose and milk, which posted higher volumes. Australian Dairy exports January 2026 In mt. 2025 2026 ∆ ∆% SMP 12.671 14.501 1.830 14,44% WMP 4.411 2.689 -1.722 -39,04% Whey 1.824 1.876 52 2,85% I/F 860 815 -45 -5,23% Lactose 249 300 51 20,48% Butter 946 328 -618 -65,33% Butter Oil 436 176 -260 -59,63% Cheese 13.985 10.142 -3.843 -27,48% Milk 11.063 14.304 3.241 29,30% Total 26.430 24.950 -1.480 -5,60% Challenging weather conditions across several dairy regions, combined with tighter farm margins, continued to weigh on milk flows for most of the year. However, December and January were the first months within the rolling six-month period to show an increase in production. Total milk production over the six-month period was down by 0.83%, or 40 million kg. From February onwards, Australia enters the off-season, with milk volumes typically around 25% below the annual monthly average. Australian Dairy Imports January 2026 In mt. 2025 2026 ∆ ∆% SMP 1.496 1.079 -417 -27,87% WMP 3.577 3.587 10 0,28% Whey 546 478 -68 -12,45% Cheese 9.131 8.895 -236 -2,58% Butter 3.525 3.848 323 9,16% Butter Oil 774 1.009 235 30,36% Total 19.049 18.896 -153 -0,80% Despite weak milk production in Australia for most of last year, imports were slightly lower in January, declining by 0.66%, or 0.74 million kg LME. This followed an increase in November of 8.60%, or 9.4 million kg LME. In commodity tonnage terms, January imports fell by 0.80%, or 153 tonnes. Australia milk production rolling 6 months YTD January 2026 kgs previous year Current ∆ ∆% August 2025 681.900.000 661.500.000 -20.400.000 -2,99% September 2025 812.500.000 808.800.000 -3.700.000 -0,46% October 2025 917.800.000 895.900.000 -21.900.000 -2,39% November 2025 868.000.000 849.200.000 -18.800.000 -2,17% December 2025 799.400.000 814.100.000 14.700.000 1,84% January 2026 708.200.000 718.800.000 10.600.000 1,50% Year to date December 4.787.800.000 4.748.300.000 -39.500.000 -0,83%