Within the IFCN Dairy Network milk prices and costs of milk production have been analysed from 31 countries for the year 2003. A wide diversity of milk prices between the countries could be observed with > 35 US-/100kgmilkinSwitzerland,NorwayandCanadaand<15USβ in Argentina and Pakistan. Costs of milk production differ significantly between the countries, and within the countries as well. The highest costs of milk production (50 - 60 US- /100kgmilk)arefoundinSwitzerlandandonaveragesizedfarmsintheEU,thelowestcostsinArgentina(10β15USβ). For the future, a "world market price for milk," which was around 15 - 20 US-/100kgmilkin2003,isexpectedtobehigherandmightendataround28USβ