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 price index up 3.3%

GDT price index up 3.3%

WMP prices rose 1.7% to average US$3,408/t at auction #356, with above average demand meeting increased volumes on offer from the previous event. Improved Chinese involvement helped the result, while SE Asian buyers kept volumes above the average to date in 2024. SMP...

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US Milk Down 0.4% in April

US Milk Down 0.4% in April

US milk production fell 0.4% YOY in April, the 10th consecutive monthly decline. Per cow yield increased 0.4% YOY on average, however cow numbers were down 0.8% YOY. At 9.34m head, the herd lost 74,000 milking cows over the past 12 months, and there 8,000 head less...

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US Milk Down 0.4% in April

NZ Milksolids Down 2.6% In April

Milk output fell 2.6% YOY in April on a solids basis, taking seasonal output 0.8% ahead of the prior year. Production fell 1% on a volume basis, tracking 0.5% behind the prior year according to Dairy Companies Association of New Zealand update . NZX reports production...

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Beston Delays Milk Payments

Beston Delays Milk Payments

Beston Global Food Company has asked its farmer suppliers to wait for full payment of their milk. In April, the processor withheld 15% of farmers farmgate milk price payments. Beston cites cashflow problems and difficult market conditions for the decision to delay...

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Beston Delays Milk Payments

Dairy Australia Situation & Outlook

The latest Situation & Outlook from Dairy Australia (DA) shows farmers remain confident about the industry future with the majority still making an operating profit. DA expects milk production to finish 2% to 3% higher YOY in the 2023/24 season at 8.35bn litres....

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US Milk Down 0.4% in April

Irish milk down 5.9% in March

Irish milk production was down 5.9% in March, according to an update from the Central Statistics Office. Irish milk continues to trend down, albeit at a slower rate than prior months. Fat content was 4.4% up from 4.35% in March 2023, while protein composition fell...

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Beston Delays Milk Payments

Fonterra Shifts Direction

Fonterra has announced a major change in its strategic direction, and will explore full or partial divestment options for some or all of its global Consumer business and brands, including the integrated Fonterra Oceania which is the recently merged Fonterra Brands New...

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Seasonal Water Outlook Released

Seasonal Water Outlook Released

The Resource manager for northern Victorian water systems has updated the outlook for 2024/25 seasonal determinations. Reserves established in water storages during 2023/24 provided a strong foundation for carried over allocation and 2024/25. The opening determination...

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BoM Issues La Niña Watch

BoM Issues La Niña Watch

The Australian Bureau of Meteorology (BoM) has moved to La Niña watch as the bureau’s long-range forecast indicates above average rainfall in parts of Australia.   BoM’s climate manager Dr Karl Braganza said moving to La Niña watch is not a declaration that an event...

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GDT price index up 3.3%

GDT Prices Up 1.8%

The price index rose 1.8% during GDT event #355 following two negative Pulse auctions, and despite the lowest Chinese participation since June 2011. WMP led the way with prices rising 2.5% to average US$3,350/t. SMP prices edged higher, averaging US$2,551/t, a 0.4%...

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