How much is a gallon of milk? In 2024, the average retail price of whole fortified milk in the United States was 4.1 U.S. dollars, which was a decrease from the previous year. Milk production Dairy farming is an agricultural business which is engaged in the long-term milk production within the dairy industry. Dairy farming is a large contributor to the overall economy in many states. California, Wisconsin, and Idaho had the highest milk supply in 2022. Continuing the trend of each year breaking the record for milk production, an estimated 228.3 billion pounds of milk were produced in 2023. Milk consumption Since 2011, there has been a steady decline in milk consumption in the United States, with just 65.2 liters consumed per capita compared to 78.3 in 2011. This could be explained by consumers’ increasing shift towards plant-based dairy alternatives. In 2019, 35 percent of consumers consumed soy products at least once a week, up from 24 percent in 2010.

Milk decreased 0.06 USD/CWT or 0.32% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Milk - values, historical data, forecasts and news - updated on March of 2025.

During the financial year 2023, the annual inflation of milk prices in India was over seven percent, the highest in comparison to previous years. The inflation of milk price was even higher than annual food inflation rate which is 6.61 percent for the same year.

Graph and download economic data for Producer Price Index by Commodity: Farm Products: Raw Milk (WPU0161) from Jan 1947 to Feb 2025 about milk, agriculture, commodities, PPI, inflation, price index, indexes, price, and USA.

The FAO Dairy Price Index* was 142.9 points in January 2025. The coronavirus pandemic and the war in Ukraine drove the price of dairy products up throughout 2022. The prices decreased but began to rise again towards the end of 2023.For further information about the coronavirus (COVID-19) pandemic, please visit our dedicated facts and figures page. For further information about the Russian invasion of Ukraine, please visit our dedicated page on the topic.

This statistic shows projections for milk prices in the United States from 2019 to 2028. In 2028, it is expected that the price for milk in the U.S. will be 19.89 U.S. dollars per cwt.

Most milk produced in the UK is bought by dairies (registered ‘milk purchasers’) for processing. Defra runs a monthly survey in England and Wales to collect information on the volume, value and protein content of milk purchased from farms. Similar surveys are run in Scotland and Northern Ireland. The UK average farm-gate milk price, protein content and butterfat content is then calculated.

The farm gate price of cow's milk in Ireland increased between the years of 2016 and 2023. From 2016 to 2017, there was a large increase of approximately 30 percent in the farm gate price. In 2023, the farm gate price was over 40 euros per 100 liters.

United States Consumer Price: Average: Milk, Fresh data was reported at 2.913 USD/lb in Oct 2018. This records an increase from the previous number of 2.890 USD/lb for Sep 2018. United States Consumer Price: Average: Milk, Fresh data is updated monthly, averaging 3.119 USD/lb from Jul 1995 (Median) to Oct 2018, with 280 observations. The data reached an all-time high of 3.961 USD/lb in Jul 2008 and a record low of 2.459 USD/lb in Sep 1995. United States Consumer Price: Average: Milk, Fresh data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.P001: Consumer Price.

The global whole fresh milk market totaled $752.9B in 2024, standing approx. at the previous year. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2024; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the market value increased by 6.4%.

The Asian whole fresh milk market amounted to $333.4B in 2024, approximately mirroring the previous year. The market value increased at an average annual rate of +3.0% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $335B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Graph and download economic data for Producer Price Index by Commodity: Processed Foods and Feeds: Bulk Fluid Milk and Cream (WPU02310601) from Dec 1991 to Feb 2025 about milk, dairy, processed, food, commodities, PPI, inflation, price index, indexes, price, and USA.

Graph and download economic data for Producer Price Index by Industry: Fluid Milk Manufacturing: Primary Products (PCU311511311511P) from Dec 1982 to Feb 2025 about milk, dairy, primary, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

Explore the multifaceted factors influencing whole milk prices, including production costs, consumer demand, agricultural policies, and global market trends. Understand how these elements contribute to price fluctuations and what they mean for consumers and producers in the dairy industry.

This statistic shows the average annual output price of milk in the United Kingdom from 1994 to 2022, in index format. Since 2000, the output price index of milk has steadily increased, until 2022 when the index price shot up to a peak of 180 points.

The statistical data generated through the administration of the Federal milk order program is recognized widely as one of the benefits of this program. These data provide comprehensive and accurate information on milk supplies, utilization, and sales, as well as class prices established under the orders and prices paid to dairy farmers (producers). The sources of this data are monthly reports of receipts and utilization, producer payroll reports, and reports of nonpool handlers filed by milk processors (handlers) subject to the provisions of the various milk orders. The local market administrator (MA) uses these reports to determine pool obligations under the order and to verify proper payments to producers. Auditors employed by the MA review handler records to assure the accuracy of reported information. Reporting errors are corrected; if necessary, pool obligations are revised. After the pool obligations have been determined the local market administrator summarizes the individual handler reports and submits a series of order summary reports to the Market Information Branch (MIB) in Dairy Programs. The MIB summarizes the individual order data and disseminates this information via monthly, bimonthly, and annual releases or publications. Since milk marketing order statistics are based on reports filed by the population of possible reporting firms and not a sample, these statistics are comprehensive. Also, since these individual firm reports are subject to audit and verification, these statistics are accurate. The Federal milk order statistics database contains historical information, beginning in January 2000, generated by the administration of the Federal milk order program. Most of the information in the database has been published previously by the Market Information Branch in Dairy Programs either on its web site or in the Dairy Market News Report. New users are encouraged to use the "User Guide" to learn how to navigate the search screens. If you are interested in a description of the Federal milk order statistics program, or want current data, in ready made table form, use the "Current Information" link.

India Consumer Price Index (CPI): Food and Beverages: Milk and Milk Product data was reported at 187.900 2012=100 in Feb 2025. This stayed constant from the previous number of 187.900 2012=100 for Jan 2025. India Consumer Price Index (CPI): Food and Beverages: Milk and Milk Product data is updated monthly, averaging 141.050 2012=100 from Jan 2011 (Median) to Feb 2025, with 170 observations. The data reached an all-time high of 187.900 2012=100 in Feb 2025 and a record low of 82.700 2012=100 in Jan 2011. India Consumer Price Index (CPI): Food and Beverages: Milk and Milk Product data remains active status in CEIC and is reported by Ministry of Statistics and Programme Implementation. The data is categorized under Global Database’s India – Table IN.IB001: Consumer Price Index: 2012=100.

Pakistan Average Retail Price: Fresh Milk data was reported at 82.750 PKR/l in 2018. This records an increase from the previous number of 80.590 PKR/l for 2017. Pakistan Average Retail Price: Fresh Milk data is updated yearly, averaging 20.245 PKR/l from Jun 1991 (Median) to 2018, with 28 observations. The data reached an all-time high of 82.750 PKR/l in 2018 and a record low of 7.710 PKR/l in 1991. Pakistan Average Retail Price: Fresh Milk data remains active status in CEIC and is reported by State Bank of Pakistan. The data is categorized under Global Database’s Pakistan – Table PK.P001: Average Retail Price.