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.
US domestic butter demand remains stellar
Between January and August, commercial American cheese disappearance rose 6.2% over the 2020 comparable. That compares to a 2.9% lift in commercial disappearance of other cheese varieties (including mozzarella) over the same 8-month period. In terms of stocks-to-use...
Farmers want in on climate change talks
President of the National Farmers Federation (NFF) Fiona Simson has claimed a seat at the table during climate policy negotiations on behalf of farmers, saying the world is run by those who show up. NFF wants to ensure farmers interests are front and centre in the...
EU August milk up 0.8%
EU-27 supplies rose 0.8% YOY in August, based on our analysis of data reported by Eurostat and AGEA. The overall YOY increase was driven by a 5.4% expansion in Ireland, while France was up 1.1%. Spain output rose 3.1%YOY, with Poland and Italy up 0.9% and 3.6%...
GDT results up across the board
Once again, despite the tight fat and SMP supplies in the EU and another strong run-up by NZX milk powder futures quotes, the index for event 294 was just 2.2% higher. The major powders made small gains on average while fats were reflective of the limited options...
Bubs says China is improving
Shares in infant formula maker Bubs Australia shares jumped 17% last week to $0.42 per share as the latest quarterly report revealed high growth during the quarter due to a revamped business strategy. Bubs share prices were down 30% in 2021, but in the past month have...
Global commodities hit high
The UN Food and Agriculture Organisation’s (FAO) food price index hit a ten-year high at 130.0 points in September, up 1.2% from August and 32.8% higher than in September 2020. According to the FAO, tightening supply and robust demand for staples such as wheat and...
EU milk starting to recover?
Estimated EU milk output rose 2.1% YOY in August, a 3-month high. This estimate is based on 15 member countries that have published August data on Eurostat, jointly accounting for 45% of average monthly EU-27 deliveries. Stronger output in Ireland (+5.4%), Poland...
Farm profits jump in Victoria
According to the 2020/21 Dairy Farm Monitor Victorian dairy farmers had the most profitable financial year in more than a decade. The report analysed 80 farms, finding average earnings before interest and taxes (EBIT) on farms rose to $422,000 in 2020/21 from $346,000...
Australia’s cheese, SMP manufacturing falls
Slightly higher milk production combined with lower drinking milk sales increased manufacturing milk supply by 1.6% in the 2020/21 season. Dairy Australia reported national cheese production fell 1.3% in 2020/21 to 366,236t, with a corresponding 6.1% decline in...
$80m to flood-hit farmers
Farmers and industries hit by flooding earlier this year can access a newly announced $80m flood relief package, with $50m available directly to primary producers seeking grants to replace lost stock or damaged infrastructure. The $80m Industry Recovery Package is a...
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