◂ Event Timeline

Nov 11, 2026REPORTNew Zealand

New Zealand milk powder exports set to fall as El Niño and costs bite

A USDA report forecasts New Zealand's milk output will fall 3.5% in 2027 due to El Niño and rising costs. Whole milk powder exports are expected to drop 6.7%, with processors prioritising cheese and butter.

WHY IT MATTERS

A sharp fall in New Zealand whole milk powder exports tightens global dairy supply, which is supportive for dairy prices and for the feed and ingredient markets tied to dairy herds.

AFFECTSNonfat Dry Milk▲Milk (Class III)▲

SOURCE
cropli.ioEditorial TeamNov 11, 2026

Price reaction & history

Nonfat Dry Milk▲bullish

Not enough comparable past events yet for a historical read.

Milk (Class III)▲bullish

After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.

Jan 10, 2020Supply & Demand report projects lower milk production, higher exports - Brownfield Ag News+0.2%
Mar 25, 2022Milk Production Continues To Fall While Prices Climb - EDairy News English+5.6%
Aug 31, 2020All Milk Price Rises Nearly $3.00 Compared to Month Prior - Mid-West Farm Report-13.7%
Sep 22, 2024USDA Cuts Milk Production Forecasts, Boosts Price Outlook Cheese Prices Expected To Average Over $1.90 Per Pound - Cheese Reporter-0.1%
Jun 13, 2018USDA projects milk prices are set for an upward trend-0.5%

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.

Nonfat Dry Milk NFDM · GP ▸

· ·

Milk (Class III) MILK · GP ▸

· ·