UK dairy trade softens in March

UK milk production remained strong during the first three months of 2026, increasing by 3.10% year-on-year, equivalent to an additional 123 million kilos of milk.UK dairy exports weakened in March, declining by 4.72% year-on-year, or 17 million kilos of liquid milk equivalent (LME). This followed a strong performance in February, when exports increased by 9.08%. UK dairy exports - March Product 2025 2026 ∆ ∆% SMP 6,947 9,566 2,619 37.70% WMP 388 486 98 25.26% Whey 7,300 5,677 -1,623 -22.23% WPC80/WPI's 2,315 1,795 -520 -22.46% Lactose 1,075 698 -377 -35.07% FFMP 188 190 2 1.06% I/F 1,330 754 -576 -43.31% Cheese 17,328 17,939 611 3.53% Butter 3,250 3,660 410 12.62% AMF 1,706 1,469 -237 -13.89% Cream 4,518 4,055 -463 -10.25% Fermented 3,144 2,233 -911 -28.98% Condensed 4,330 3,363 -967 -22.33% Milk 69,900 55,558 -14,342 -20.52% Most product categories recorded lower export volumes in March. However, exports of skimmed milk powder (SMP), whole milk powder (WMP), fat-filled milk powder (FFMP), cheese, and butter increased. The most notable growth was recorded in SMP and WMP exports.Despite weaker performance in March, year-to-date (YTD) exports remained strong. Declines were recorded only in lactose, infant formula (I/F), anhydrous milk fat (AMF), cream, and liquid milk. Total YTD exports increased by 9.64%, equivalent to 87 million kilos LME, compared with a growth rate of 15.49%, or 86 million kilos LME, recorded through February. UK dairy exports - YTD March Product 2025 2026 ∆ ∆% SMP 7,883 14,570 1,346 33.19% WMP 1,424 1,612 48 6.62% Whey 11,343 10,450 122 2.48% WPC80/WPI's 2,657 3,306 280 19.79% Lactose 2,065 1,333 -490 -61.40% FFMP 413 396 142 94.04% I/F 1,636 1,313 -159 -21.40% Cheese 31,021 45,066 9,587 59.25% Butter 3,375 4,796 1,176 70.04% AMF 2,880 2,820 -242 -15.21% Cream 6,300 6,163 -801 -21.80% Fermented 6,805 13,460 4,158 120.87% Condensed 6,293 9,030 1,185 37.84% Milk 122,027 79,384 -10,050 -16.43% Like February, UK dairy imports declined in March, falling by 6.23% year-on-year, or 25 million kilos LME. This followed a 4.96% decline, or 17 million kilos LME, recorded in February. UK dairy imports - March Product 2025 2026 ∆ ∆% SMP 989 1,929 940 95.05% WMP 1,259 1,318 59 4.69% Whey 7,603 4,733 -2,870 -37.75% WPC80/WPI's 1,823 1,385 -438 -24.03% Casein 421 414 -7 -1.66% Caseinates 50 38 -12 -24.00% MPC 94 286 192 204.26% Lactose 482 223 -259 -53.73% I/F 7,174 3,848 -3,326 -46.36% Cheese 38,719 40,061 1,342 3.47% Butter 3,578 4,452 874 24.43% AMF 556 190 -366 -65.83% Cream 1,511 1,437 -74 -4.90% Fermented 27,664 29,719 2,055 7.43% Condensed 4,232 4,424 192 4.54% Milk 18,561 16,815 -1,746 -9.41% More than half of the product categories recorded lower import volumes in March. Increases were observed in SMP, WMP, milk protein concentrate (MPC), cheese, butter, fermented products, and condensed milk.On a YTD basis through March, dairy imports declined by 4.53%, equivalent to 50 million kilos LME, compared with a decline of 3.84%, or 27 million kilos LME, recorded through February. UK dairy imports - YTD March Product 2025 2026 ∆ ∆% SMP 2,894 5,288 2,394 82.72% WMP 3,731 3,679 -52 -1.39% Whey 18,571 12,613 -5,958 -32.08% WPC80/WPI's 4,702 3,893 -809 -17.21% Casein 886 1,022 136 15.35% Caseinates 154 133 -21 -13.64% MPC 344 896 552 160.47% Lactose 1,911 1,205 -706 -36.94% I/F 15,983 10,488 -5,495 -34.38% Cheese 111,154 113,315 2,161 1.94% Butter 11,805 12,899 1,094 9.27% AMF 1,999 540 -1,459 -72.99% Cream 5,172 4,430 -742 -14.35% Fermented 73,565 82,934 9,369 12.74% Condensed 13,234 13,072 -162 -1.22% Milk 39,311 38,355 -956 -2.43% The resulting increase in dairy stocks, or implied increase in consumption, amounted to 1.7% of YTD March milk production. UK milk production - YTD March Month 2025 2026 ∆% ∆ January 1,321,600,000 1,370,200,000 3.68% 48,600,000 February 1,212,600,000 1,255,800,000 3.56% 43,200,000 March 1,413,700,000 1,444,400,000 2.17% 30,700,000 Total 3,947,900,000 4,070,400,000 3.10% 122,500,000