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The IFCN Combined World Milk Price Indicator rose 2.3% in May to 47.6 EUR per 100 litres. The increase was driven by record butter prices, front-loading ahead of potential US tariffs, and seasonal declines in Oceania milk output.
Record butter prices and seasonal Oceania supply declines are lifting global dairy values. Tariff front-loading may reverse later, so buyers should watch for a pullback in dairy-based ingredient prices.
ifcndairy.orgMatJun 16, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
