Australian dairy exports improve in June

Australian dairy exports performed strongly in June, increasing by 6.26%, or 13.3 million kilo LME.Most product volumes increased during the month, with the exceptions of WMP, butter, butter oil, and milk. In terms of commodity tonnage exported, volumes decreased by 4.31%, or 1,937 tons. Australian dairy exports June - Tons Commodity 2025 2026 ∆ ∆% SMP 11,679 12,789 1,110 9.50% WMP 3,755 3,113 -642 -17.10% Whey 1,286 1,880 594 46.19% I/F 1,470 1,572 102 6.94% Lactose 101 324 223 220.79% Butter 884 415 -469 -53.05% Butter Oil 199 165 -34 -17.09% Cheese 12,964 14,427 1,463 11.29% Milk 12,556 12,146 -410 -3.27% Total 44,894 46,831 1,937 4.31% The YTD June export figures improved compared with YTD May, moving from -8.29% to -6.82%, equivalent to a decline of 94 million kilo LME. In terms of commodity tonnage exported, volumes increased by 4.31%, or 1,937 tons. On a YTD basis through June, most product volumes decreased, with whey, lactose, and milk being the exceptions. Australian dairy exports YTD June - Tons Commodity 2025 2026 ∆ ∆% SMP 74,852 70,766 -4,086 -5.46% WMP 25,392 17,302 -8,090 -31.86% Whey 8,695 11,201 2,506 28.82% I/F 7,853 7,842 -11 -0.14% Lactose 2,116 3,693 1,577 74.53% Butter 4,621 3,247 -1,374 -29.73% Butter Oil 2,343 2,019 -324 -13.83% Cheese 85,028 79,623 -5,405 -6.36% Milk 69,701 71,754 2,053 2.95% Total 280,601 267,447 -1,480 -5.60% Milk production has remained positive this year and currently stands 2.85% higher, equivalent to an increase of 88 million kilo YTD through May. Australian rolling milk production - Kilo Month 2025 2026 ∆ ∆% January 708,200,000 718,800,000 10,600,000 1.50% February 572,400,000 575,600,000 3,200,000 0.56% March 595,900,000 612,300,000 16,400,000 2.75% April 594,000,000 618,300,000 24,300,000 4.09% May 620,342,000 654,041,000 33,699,000 5.43% Total 3,090,842,000 3,179,041,000 88,199,000 2.85% Improved weather conditions across several dairy-producing regions, combined with stronger farm margins, have supported higher milk flows throughout the year. However, El Niño could negatively affect production in the coming months.With a higher Australian milk production throughout the year, imports declined in June by 1.33%, equivalent to 1.28 million kilo LME. Nearly all dairy import volumes decreased, with whey and butter being the exceptions. Australian dairy imports June - Tons Commodity 2025 2026 ∆ ∆% SMP 1,055 633 -422 -40.00% WMP 2,313 2,084 -229 -9.90% Whey 731 840 109 14.91% Cheese 8,867 7,418 -1,449 -16.34% Butter 2,116 3,925 1,809 85.49% Butter Oil 1,320 1,058 -262 -19.85% Total 16,402 15,958 -444 -2.71% The YTD June import figures were slightly weaker than in the previous month, with growth easing from 9.58%, or 48 million kilo LME, to 7.89%, or 47 million kilo LME. At the product level, the picture was mixed, with a broadly even split between commodities recording higher and lower volumes. Australian dairy imports YTD June - Tons Commodity 2025 2026 ∆ ∆% SMP 5,505 6,110 605 10.99% WMP 17,350 17,109 -241 -1.39% Whey 4,464 3,790 -674 -15.10% Cheese 55,499 56,620 1,121 2.02% Butter 14,049 21,575 7,526 53.57% Butter Oil 5,779 5,249 -530 -9.17% Total 102,646 110,453 7,807 7.61% Overall, Australia appears to be on the right track in terms of milk production, although export volumes remain under pressure on a YTD basis. Looking ahead, the potential impact of El Niño remains an important risk to milk production.