Milk powder prices today
Whole milk powder links farm-gate milk supply to global dairy trade, so its price is a useful signal for the wider dairy market. Expana assesses whole milk powder in the US, the EU, Germany and the Netherlands, along with milk powder market forecasts and intelligence.
Dairy processors, food manufacturers and traders use our data to benchmark purchases and track inventory and supply trends.
Whole milk powder price chart
| Date | Price (USD/lb) | MoM % | QoQ % | YoY |
|---|---|---|---|---|
| Unlock Unlock our milk powder prices and future forecasts. | ||||
| 2.07 | ↓ 5.5% | ↓ 10.0% | — | |
| 2.15 | ↓ 6.5% | ↓ 6.5% | — | |
| 2.2 | ↓ 4.3% | ↓ 4.3% | — | |
| 2.2 | ↓ 6.4% | ↓ 4.3% | — | |
| 2.19 | ↓ 6.8% | ↑ 4.3% | — | |
| 2.19 | ↓ 10.6% | ↑ 7.9% | — | |
| 2.3 | ↓ 6.1% | ↑ 13.3% | — | |
| 2.3 | → 0.0% | ↑ 15.0% | — | |
| 2.35 | ↑ 2.2% | ↑ 17.5% | — | |
| 2.35 | ↑ 2.2% | ↑ 20.5% | — | |
| 2.45 | ↑ 6.5% | ↑ 28.9% | — | |
| 2.45 | ↑ 6.5% | ↑ 33.9% | — | |
| 2.3 | ↑ 7.0% | ↑ 26.4% | — | |
| 2.3 | ↑ 9.5% | ↑ 26.4% | — | |
| 2.3 | ↑ 13.3% | ↑ 27.1% | — | |
| 2.3 | ↑ 13.3% | ↑ 27.1% | — | |
| 2.3 | ↑ 15.0% | ↑ 27.1% | — | |
| 2.15 | ↑ 7.5% | ↑ 18.8% | — | |
| 2.1 | ↑ 7.7% | ↑ 16.0% | — | |
| 2.03 | ↑ 6.8% | ↑ 12.2% | — | |
| 2.03 | ↑ 10.9% | ↑ 10.9% | — | |
| 2 | ↑ 9.9% | ↑ 9.3% | — | |
| 1.95 | ↑ 7.7% | ↑ 6.6% | — | |
| 1.9 | ↑ 5.0% | ↑ 3.8% | — | |
| 1.83 | ↑ 1.1% | — | — | |
| 1.82 | ↑ 0.6% | — | — | |
| 1.82 | ↑ 0.6% | — | — | |
| 1.81 | → 0.0% | — | — | |
| 1.81 | ↓ 1.1% | — | — | |
| 1.81 | ↓ 1.1% | — | — | |
| 1.81 | ↓ 1.1% | — | — | |
| 1.81 | ↓ 1.1% | — | — | |
| 1.81 | ↓ 1.1% | — | — | |
| 1.83 | — | — | — | |
| 1.83 | — | — | — | |
| 1.83 | — | — | — | |
| 1.83 | — | — | — | |
| 1.83 | — | — | — | |
Expana: independent milk powder prices across the US and Europe
Our four Expana Benchmark Prices for whole milk powder are assessed by specialist reporters using market indications, not modelled data. Commentary covers milk supply, inventories and trade, plus the link to skimmed milk powder.
Milk powder coverage is led by Jose Saiz, Market Reporter, Dairy. Explore related coverage on our dairy page.
Whole milk powder benchmarks
Four Expana Benchmark Prices for whole milk powder across the US, the EU, Germany and the Netherlands.
18-month outlook
Core forecasts for whole milk powder over the next 18 months, with targets, bands and a buyer hedging indicator.
Product and origin coverage
Whole milk powder, food grade and spray dried at 26% fat, priced ex-works across the US and Europe.
Milk supply and inventories
Milk supply, inventories measured in weeks of consumption and the link to skimmed milk powder.
History and trends
Historical prices with monthly, quarterly and yearly change.
Market analysis
Commentary on milk supply, inventories and the wider dairy market.
What our milk powder service includes:
Milk powder price forecast
Whole milk powder prices track milk supply, inventories, the skimmed milk powder market and export demand. Expana’s milk powder forecasts look up to 18 months ahead.
- Milk powder price projections up to 18 months ahead.
- Near-term signals from milk supply, inventories and buyer cover.
- Context from our US and European benchmark prices.
- Inventories in weeks of consumption, and where prices sit against fair value.
- The link to skimmed milk powder and wider dairy prices.
- Risk scenarios for milk supply and export demand.
- Written context for every change in the outlook.
Forecast methodology last reviewed: October 2026.
Our milk powder forecasting methodology
Our milk powder market forecasts balance milk supply and inventories with export demand and technical price analysis.
- Macroeconomic signals
We track export and consumer demand and trade across the US and EU dairy markets. - Technical indicators
We use moving averages, MACD and RSI to judge the strength of the current trend. - Fundamental analysis
We weigh milk supply, inventories in weeks of consumption and the supply-demand balance against a fair value band.
It gives dairy buyers and processors a clear basis for budgeting and contract timing.
Looking for full insights on the milk powder market? Get a demo today.
Latest milk powder news and insights
Analysis created and curated by our dairy experts.
Milk Powder Market FAQs
What drives whole milk powder prices?
Whole milk powder prices are set by milk supply, inventories, the skimmed milk powder market and export demand. When milk is plentiful or stocks build, prices tend to ease, and the reverse when supply tightens.
How is whole milk powder linked to other dairy prices?
Milk is split between products, so whole milk powder prices move with skimmed milk powder, butter and cheese. A shift in one part of the complex often feeds through to the others.
What milk powder benchmarks does Expana cover?
Expana covers whole milk powder ex-works in the US, and spray dried at 26% fat across the EU, Germany and the Netherlands, in local units.
What factors influence milk powder price forecasts?
Key factors include milk supply, inventories in weeks of consumption, the supply-demand balance, the skimmed milk powder link, seasonality and technical signals such as moving averages and RSI.
What is the milk powder price forecast?
A milk powder price forecast is a forward-looking view of how prices may develop over a set period, weighing milk supply, stocks and demand. Expana’s Core forecast projects whole milk powder prices out to 18 months with price targets, bands and commentary.
Essential intelligence for industry professionals
Expana delivers essential intelligence to industry professionals across dairy markets, ensuring business leaders stay informed about the latest prices and industry trends, enabling them to effectively navigate disruptions, manage prices, and deliver value to their customers.