The average value of the FAO Dairy Price Index in October 2025 was 142.2 points, which is 5.0 points (3.4 percent) lower than in September, marking the fourth consecutive monthly decline. Despite this decrease, the index remained 2.7 percent higher than the level of the previous year.
All sub-indices declined: butter prices fell by 6.5 percent, whole milk powder by 6.0 percent, skimmed milk powder by 4.0 percent, and cheese by 1.5 percent.
The further decline in the butter price index largely reflected strong export availability from the European Union and New Zealand, as moderate seasonal temperatures supported milk production amid weak import demand from Asia and the Middle East.
Quotations for milk powders also dropped due to limited demand and strong competition in export markets.
The cheese price index decreased only slightly, as a small decline in the European Union — where milk supplies remain adequate and export demand is low — was partly offset by higher prices in Oceania, supported by stable orders from Asia and smaller early-season supplies.
Source: fao.org
