Dairy Outlook is a service of FAO’s Markets and Trade
The FAO Dairy Price Index averaged 120.7 points in October, up 2.6 points (2.2 percent)
from September and 16.2 points (15.5 percent) above its level in the corresponding month a year ago. In October, international price quotations for butter, skim milk powder and whole milk powder rose steeply for the second consecutive month, underpinned by
firm global import demand amid buyers’ efforts to secure supplies to build stocks. Seasonally low milk supplies and tight inventories in Europe and a slower start than earlier anticipated to the new milk production season in Oceania also lent support to world
milk prices. By contrast, cheese prices remained largely stable, as supplies from major producers were adequate to meet global import demand.