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 cheese, butter demand up in November
Commercial American cheese disappearance rose 3.5% YOY between January and November. That compares to a 2.9% lift in commercial disappearance of other cheese varieties (including mozzarella) over the same 11-month period. Overall domestic cheese demand rose 3.5% YOY...
UK milk down In December
UK milk production was down 3.6% YOY in December 2021, according to the latest data from AHDB. Milk production totalled 1,014m litres in December 2021 and while production was down YOY, December output lifted 3.8% from the month before. Average daily milk deliveries...
GDT gains for powders and butter
After many events where the apparent “bargain” of WMP on GDT became more compelling given strong price gains in northern hemisphere fat and protein markets and the gradually deteriorating NZ post-peak season, WMP prices finally posted a solid gain. Demand for both...
Burra steps up
Burra Foods has increased milk price paid to its suppliers by 10c/kgMS for the 2021/22 season to a range of $6.70kgMS – $7.10kgMS. Burra chief executive Stewart Carson said the company was seeing low market inventories and good demand. Shipping continues to be an...
Change in rules may alleviate crisis
Food shortages and empty supermarket shelves are set to be alleviated with recent isolation rule changes, which clear asymptomatic and COVID-negative staff to return to work. Dairy and meat producers have asked the government for more help to cope with COVID...
BoM: La Niña continues
The latest Climate and Water Outlook from the Australian Bureau of Meteorology’s (BoM) is for the current La Niña is to until early autumn. La Niña will likely bring above average rainfall to the east coast but below average rainfall in western Victoria, Tasmania and...
Fats and cheese win first GDT event on 2022
The first GDT event of 2022 was a mixed bag last week with the overall price index rising 0.3%, and with most of the action in fats and cheddar. WMP prices were flat on average at US$3,866/t, but a small lift in regular C2 product was driven by a stronger %...
EU milk growth remains low
Based on data for 15 member countries which jointly account for 62% of EU-27 raw milk supplies on average, output fell 0.7% YOY in November. Among major producing countries, supply in Germany and Netherlands was down 2.9% YOY and 4.1% YOY respectively. Production in...
Fonterra updates NZ milk forecast
Fonterra has revised its 2021/22 forecast New Zealand milk collections to 1,500m kgMS, down from its opening forecast of 1,525m kgMS. Varied weather and challenging growing conditions in parts of the country early in the season saw milk output dip year on year....
Forrest buys into Bega after profit update
Tattarang AgriFood Investments has become a substantial shareholder in Bega Cheese, paying more than $100m for a 6.61% stake in the processor. Tattarang holds a 36% shareholding in Fortescue Metals Group, chaired by Andrew “Twiggy” Forrest. Over six weeks through...
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