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.
GDT Index Flat
GDT event #376 event delivered a flat result and was mostly negative for NZ product prices while EU product continued to push higher, as butterfat remained tight in that market. NZ SMP followed the form of last week’s Pulse to more than reverse the gains from #375....
Fonterra Lifts H1 Profit
Fonterra raised profits after tax 8% YOY to NZ$729m in the first half of FY2025 as operating profit jumped 16% to NZ$1.107bn. Earnings per share rose 10% to NZ44c per share and an interim dividend of NZ22c per share will also be paid. The farmgate milk price range for...
Mainland Pitch To Investors
Mainland chief executive Rene Dedoncker was pitching to equities fund managers in Sydney and Melbourne this week. The aim is to get an IPO bid for Mainland—a priced listing underwritten by investment banks and/or institutional investors to compare to trade and...
Farmers Dump Milk Post-Ex Tropical Cyclone
Dairy farmers across NSW and Queensland were reportedly dumping milk in the wake of flooding caused by ex-tropical cyclone Alfred. Norco farms located in the area affected by residual flooding were forced to dump 375,000 litres of milk. Norco CEO Michael Hampson...
Pulse Prices Mixed
Regular grade WMP and medium heat SMP prices moved in different directions at this week’s Pulse event. Regular grade WMP prices settled at US$3,975/t—unchanged from the GDT #375 and up 0.4% from the prior Pulse event. The nearest SGX-NZX futures contract settled...
Australian Exports Up In January
Australian exports rose 42% YOY in January in milk solids equivalent terms (MSE), and have increased YOY in every month since December 2023. January cheese exports rose 34.4% YOY, with growth in all key Asian markets led by Japan, but the tonnage was lowest since...
Fonterra Lifts Earnings Guidance
Fonterra has lifted its FY25 guidance to 55c—75C per share, up from 40c—60c per share and confirmed a payout midpoint of NZ$10kgMS for the current season. CEO Miles Hurrell said the upgrade in guidance is due to the strength of Fonterra’s core ingredient business and...
Consumer Sentiment Hits Three-Year High
The monthly Westpac-Melbourne Institute Consumer Sentiment index lifted to 95.9 in March, up from 92.2 in February. The reading was the highest recorded in three years, boosted by the Reserve Bank interest rate cut announcement and easing cost-of-living pressures....
TC Alfred Hits Dairy Regions
Strong winds and lashing rain unleashed across southeast Queensland and northern NSW last weekend with tropical cyclone Alfred downgraded to a tropical low before landfall Saturday. In northern NSW dairy regions, 300mm of rain was recorded in less than 24 hours on...
GDT Prices Mixed
The weight of WMP in the product mix shaved 0.5% off the index at event #375, despite generally positive price movements. The average SMP price declined 0.4% to US$2,744/t with mixed prices across contract periods. China and SE Asian buyers backed off as European...
CLICK TO SUBSCRIBE
TO UPDATES