Cream Price Trend and Forecast 2026-2027

France paid the most for cream in Q3 2026: USD 5,500/MT, up 1.4% from USD 5,424/MT in Q2. Firm butterfat prices, high energy costs and strong demand from pastry makers and food service users keep French prices above the other three markets. Worldwide, the average rose 1.4% to USD 4,950/MT from USD 4,884/MT, mostly because higher butterfat prices and stronger demand from bakeries, ice cream makers and food service users led dairies to raise prices in all four markets. What about Q4 2026? We expect a global average somewhere in the USD 4,825-5,220/MT range, with butterfat prices, milk supply, energy costs and holiday season demand from bakeries and food service users doing most of the work.

Cream is the fat-rich layer separated from cow's milk, with a fat content of about 35 to 40 percent in the common whipping and cooking grades. It is used in dairy desserts, sauces, ice cream, butter and bakery products. Prices in this report refer to bulk fresh cream of 40 percent fat and are quoted per metric ton. They depend on butterfat prices, milk supply, energy costs and demand from bakeries and ice cream makers.

Cream is made at dairies in Europe, North America and New Zealand by spinning milk in separators, and it is either sold fresh or turned into butter and milk powder. Cream competes with butter for milk fat, so its price follows butterfat markets. It is perishable, so most trade is regional and moves by refrigerated tanker.

Cream Price Forecast for 2026

Prices should rise modestly through the rest of 2026. Butterfat prices are firm, demand before the holiday season is strong and milk supply grows slowly. Large stocks of butter limit the size of the increase. A year ago the global average was USD 4,746/MT, and the latest quarter, at USD 4,950/MT, is 4.3% higher.

For Q4, risks to the price are evenly spread. What could push prices higher? Higher butterfat prices, tight milk supply or stronger holiday demand would lift prices. What could pull them lower? Lower butterfat prices, higher milk supply or weaker demand from bakeries would lower prices.

For the Quarter Ending September 2026

Cream Prices Q3 2026:

• New Zealand: USD 4,400/MT
• Germany: USD 4,800/MT
• United States: USD 5,100/MT
• France: USD 5,500/MT

Cream Prices in New Zealand

The Q3 2026 average for New Zealand stood at USD 4,400/MT, an increase of 1.5% on the USD 4,335/MT recorded in Q2. New Zealand prices rose as the demand from export buyers improved. The Q3 2025 average of USD 4,199/MT puts the current price 4.8% above its level a year earlier. In comparison with the average of USD 4,950/MT across the four markets, the price in New Zealand was 11.1% lower.

Why did the price of Cream change in Q3 2026 in New Zealand?

New Zealand rose. Demand from export buyers improved, milk fat prices increased, and dairies raised prices. Year to date, New Zealand is 3.5% higher than the Q4 2025 level of USD 4,250/MT, while the global average is 3.2% higher. On the global measure the average was 1.4% higher over the quarter. This represents a quarter-on-quarter change of 1.5% for New Zealand.

Cream Prices in Germany

Germany registered a 1.3% increase in Q3 2026, taking the average to USD 4,800/MT from USD 4,738/MT in Q2. German prices rose as the demand from dairies and bakeries improved. Year on year, the average is 4.1% higher, against USD 4,609/MT in Q3 2025. Germany ended the quarter 3.0% below the group average of USD 4,950/MT.

Why did the price of Cream change in Q3 2026 in Germany?

Germany rose. Demand from dairies and bakeries improved, butterfat prices increased, and dairies raised offers. Over the first nine months of 2026 the price in Germany has risen by 3.1%, which compares with a 3.2% gain in the global average. For comparison, the global average moved 1.4% higher over the same quarter.

Cream Prices in United States

The United States climbed 1.2% to USD 5,100/MT in Q3 2026, from USD 5,040/MT in Q2. American prices rose as the demand from ice cream and bakery makers improved. The current level is 3.8% above the Q3 2025 average of USD 4,912/MT. The price in the United States was 3.0% above the group average of USD 4,950/MT in Q3 2026.

Why did the price of Cream change in Q3 2026 in United States?

The United States rose. Demand from ice cream and bakery makers improved, butterfat prices increased, and dairies raised prices. Since the end of 2025, the price in the United States has risen 2.8%, from USD 4,960/MT to USD 5,100/MT, while the global average has risen 3.2%. The global average shifted 1.4% higher in the same quarter.

Cream Prices in France

In Q3 2026, the average price in France rose 1.4% to USD 5,500/MT, compared with USD 5,424/MT in Q2. French prices rose as the demand from pastry makers and food service users improved. A year earlier, in Q3 2025, the average stood at USD 5,264/MT, which makes the current price 4.5% higher. The gap to the four-market average of USD 4,950/MT was 11.1% above for France.

Why did the price of Cream change in Q3 2026 in France?

France rose. Demand from pastry makers and food service users improved, butterfat prices increased, and dairies raised prices. The cumulative 2026 change for France is a 3.2% increase, from USD 5,328/MT to USD 5,500/MT, while the global average shows a 3.2% gain over the same period. Across the four markets the average was 1.4% higher on the quarter.

For the Quarter Ending June 2026

Cream Prices Q2 2026:

• New Zealand: USD 4,335/MT
• Germany: USD 4,738/MT
• United States: USD 5,040/MT
• France: USD 5,424/MT

Cream Prices in New Zealand

In Q2 2026, the average price in New Zealand rose 1.1% to USD 4,335/MT, compared with USD 4,288/MT in Q1. New Zealand prices rose as the demand from export buyers strengthened. Compared with Q2 2025, when New Zealand averaged USD 4,118/MT, the current price is 5.3% higher. Against the four-market average of USD 4,884/MT, New Zealand stood 11.2% below in the quarter.

Why did the price of Cream change in Q2 2026 in New Zealand?

New Zealand rose. Demand from export buyers strengthened, milk fat prices went up, and dairies lifted prices. This came on top of a 0.9% gain in Q1, and the average ended 5.3% above its level of a year earlier, when it stood at USD 4,118/MT. Q3 added to the change, with the price at USD 4,400/MT.

Cream Prices in Germany

Germany's average moved up 1.0% in Q2 2026, to USD 4,738/MT from USD 4,691/MT in Q1. German prices rose as the demand from bakeries strengthened. Measured against Q2 2025, when the average stood at USD 4,538/MT, the market is 4.4% higher. Germany finished Q2 2026 3.0% below the four-market average of USD 4,884/MT.

Why did the price of Cream change in Q2 2026 in Germany?

Germany rose. Demand from bakeries strengthened, energy costs went up, and dairies lifted offers. Q1 had brought a 0.8% gain, and by the end of Q2 the price was 4.4% above the Q2 2025 average of USD 4,538/MT. The move then extended in Q3, taking the price to USD 4,800/MT. On the global measure the average was 1.0% higher over the quarter.

Cream Prices in United States

Prices in the United States firmed 0.9% in Q2 2026 to USD 5,040/MT, compared with USD 4,995/MT in Q1. American prices rose as the demand from ice cream makers strengthened. In Q2 2025 the average was USD 4,836/MT, so the market is 4.2% higher on a yearly basis. The four markets averaged USD 4,884/MT in the quarter, so the price in the United States was 3.2% higher.

Why did the price of Cream change in Q2 2026 in United States?

The United States rose. Demand from ice cream makers strengthened, labor costs went up, and dairies lifted prices. Coming after a 0.7% gain in Q1, the Q2 figure sits 4.2% above the USD 4,836/MT of Q2 2025. The same direction continued in Q3, with the price reaching USD 5,100/MT. For comparison, the global average moved 1.0% higher over the same quarter.

Cream Prices in France

France recorded a 1.0% gain in Q2 2026, with the average reaching USD 5,424/MT against USD 5,370/MT in Q1. French prices rose as the demand from pastry makers strengthened. This represents a 5.1% increase on the USD 5,163/MT recorded in Q2 2025. In comparison with the average of USD 4,884/MT across the four markets, the price in France was 11.1% higher.

Why did the price of Cream change in Q2 2026 in France?

France rose. Demand from pastry makers strengthened, energy costs went up, and dairies lifted prices. The 0.8% gain in Q1 set the base, and Q2 finished 5.1% above the USD 5,163/MT recorded a year earlier. Q3 added to the change, with the price at USD 5,500/MT. The global average shifted 1.0% higher in the same quarter.

Quarterly Cream Price Trends

Cream prices rose through 2025 and the first half of 2026 and rose again in the third quarter in all four markets. The global average moved from USD 4,591/MT in Q1 2025 to 4,664 in Q2, 4,746 in Q3 and 4,798 in Q4, then 4,836 in Q1 2026, 4,884 in Q2 and 4,950 in Q3, a net gain of roughly 7.8% across the window. Higher butterfat prices and steady demand from bakeries and food service users lifted prices for six quarters.

What was Cream Price in 2025?

2025 was a year of gradual increases for cream, with prices rising in each quarter in all four markets. Starting near USD 4,591/MT in Q1, the global average finished the year at 4,798 in Q4, a gain of about 4.5%. Higher butterfat prices and steady demand from bakeries and food service users supported dairies throughout the year.

Cream Prices in New Zealand in 2025

In New Zealand, prices moved from about USD 4,047/MT in Q1 2025 to USD 4,250/MT by Q4, up roughly 5.0%. New Zealand prices rose gradually as milk fat prices and demand from export buyers increased. Relative to the end of 2025, the price in New Zealand is 3.5% higher at USD 4,400/MT.

Cream Prices in Germany in 2025

In Germany, prices moved from about USD 4,475/MT in Q1 2025 to USD 4,654/MT by Q4, up roughly 4.0%. German prices rose gradually as the energy costs and demand from bakeries increased. By Q3 2026 the average for Germany had reached USD 4,800/MT, 3.1% above the Q4 2025 close. The same regional pattern is carried into the quarterly analysis above, where the quarter-by-quarter figures can be traced.

Cream Prices in United States in 2025

In the United States, prices moved from about USD 4,769/MT in Q1 2025 to USD 4,960/MT by Q4, up roughly 4.0%. American prices rose gradually as the labor costs and demand from ice cream makers increased. The latest quarter places the United States at USD 5,100/MT, which is 2.8% above the level at which 2025 ended.

Cream Prices in France in 2025

In France, prices moved from about USD 5,074/MT in Q1 2025 to USD 5,328/MT by Q4, up roughly 5.0%. French prices rose gradually as the energy costs and demand from pastry makers increased. Since the 2025 close of USD 5,328/MT, the price in France has moved up 3.2%, reaching USD 5,500/MT in Q3 2026.

How We Can Help

Expert Market Research: Your Source for Real-Time Cream Price Intelligence

We keep a continuous eye on cream prices wherever it is produced or consumed at scale, tracing causation through butterfat prices, milk supply, energy costs, fat content and demand from bakeries and ice cream makers. Our forecasts draw on production data, trade flows, input cost trends and demand indicators across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.