Market Updates – Domestic & Global
This page contains latest global and domestic market updates that are relevant to the value of milk in the Australian dairy industry. These also appear in separate updates on this site under Domestic Market Updates and Global Market Updates.
Fonterra Output Down in March
Fonterra milk collection fell 2.4% YOY in March to 134.4mkg of milksolids, with seasonal to date intake flat at 1,283.4m kg of milksolids. The fall in March output is attributed to unfavourable weather in the North Island, partially offset by good conditions in the...
Saputo Flags New Season Price Range
Saputo has offered an early guidance range for the 2024/25 season, flagging a weighted average opening farmgate milk price of between $7.80 to $8.00 kgMS. Saputo expects opening farmgate milk prices will be reduced to factor in ongoing global and domestic market...
Less Winter Rainfall Forecast
Unusually low rainfall for parts of southern and eastern Australia is part of the long-range outlook from the Bureau of Meteorology (BoM). Temperatures are expected to be above median for most of the country. Soil moisture is below average in southern parts of...
Fonterra’s Milk Intake Lifts
Fonterra’s March milk intake rose 0.7% YOY to 8.5mkg of milksolids as favourable weather boosted soil moisture and pasture growth. Season-to-date milk collections are tracking 1.2% ahead of the prior year at 83.3mkg of milksolids.
US March Milk Down 1%
US milk production fell 1% YOY in March according to the USDA, reflecting a continuing decline in the dairy herd. Average yield per cow was flat YOY while cow numbers were down 1% YOY in March. At 9.335m, March cow numbers were down 7,000 head on the prior month and...
NZ March Milk Output Falls
Milk production was down 1.2% YOY on a solids basis in March, taking season-to-date production 1.1% ahead of the prior year. Milk intake fell 3.5% YOY on a volume basis with seasonal output trailing 0.2% behind the prior year comparable. The drop was just short of...
Saputo workers walk off
Workers at Saputo’s Burnie cheese plant have walked off the job, with the Australian Manufacturing Workers Union (AMWU) claiming maintenance workers at the site are paid 21% less than their mainland counterparts. The AMWU puts the gap between Tasmanian and mainland...
Cattle Market Steadies
Cattle markets have steadies in 2024 after the wild swings of 2023 and 2022. The EYCI is still weaker than YOY, but according to Mercado better prices are likely over the coming weeks, with current fundamentals it making “prices tanking in the same fashion they did...
GDT Stalls
The price index edged 0.1% higher at event #354 on a reduced offering for now but news of higher deliveries in coming months. SMP was flat on average, down 0.4% to US$2,541/t as later contract periods flattened, offsetting a 2.6% increase in Fonterra MH C2 price....
NZ: Fonterra Plant Closures
Fonterra will close a number of ageing plants at two Waikato sites in an effort to optimize operations. Fonterra’s Waitoa PDC, a coal centre and two dryers in Te Rapa are no longer efficient to operate and will close later this year. The Te Rapa driers will close...
CLICK TO SUBSCRIBE
TO UPDATES