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.
Strong Australian exports for March
There were strong trends in Australian exports in March, with cheese shipments up 7.2% for the month and 6.4% higher for the quarter. Increased sales to SE Asia accounted for most of the growth in March. Milk and cream exports were up 59% YOY in March, the ninth...
US March cheese exports record high
US dairy exports surged in March, accounting for 18% of national milk production – a 10-month high. US cheese exports rose 12.9% YOY in March to 41,925t, the highest monthly volume on record in our database which starts in January 2010. In YOY terms, shipments have...
Fonterra New Zealand cuts price range
Fonterra has revised its forecast farmgate milk price range to a range of NZ$9.10kgMS – NZ$9.50kgMS, down from NZ$9.30kgMS – NZ$9.90kgMS. Fonterra said the milk price revision is due to a number of recent events that have resulted in short-term impact on global demand...
Tattarang ups Bega investment
Investment firm Tattarang has spent $15.2m on just over 3m Bega shares in April, lifting its holding to 10% of the company. Tattarang now owns around 30.3m shares in Bega. Bega shares rose to $5.19 at the end of April, but are trading at $4.87 at the close of trading...
Farmer lobby wants clear plans for ag
The National Farmers Federation (NFF) has called out Labor and the Coalition for not offering a clear plan for agriculture and climate change. There was hardly any mention of the role of farmers in climate change in a debate between agriculture minister David...
EU milk supplies remain tight
EU-27 milk supplies remain tight in March according to Eurostat data. Irish production fell 3.3% YOY to 826m kgs, but on a particularly large prior-year comparable. That decline followed YOY increases in both January and February. The Netherlands is the only other...
GDT slumps as weak Chinese demand keeps buyers away
GDT event 307 produced a large fall in prices across the board as the fears of the effects of protracted COVID restrictions in China kept buyers on the sidelines. SMP fell 6.3% or $278t on average to $4,130/t. Fonterra MH C2 lost $225/t to $4,185/t, but the forward...
Norco lifts milk price
Norco Cooperative is lifting its May and June milk price, adding 5c/l as a Coop Premium to suppliers, taking the average milk price to 84c/l. Norco chief executive Michael Hampson said it had been a difficult time for suppliers who have repair costs in the tens of...
Rabobank sees dairy profits ahead
According to Rabobank’s Australian Dairy 2022/23 Seasonal Outlook, dairy farmers are looking at another profitable season with record high milk prices and favourable seasonal conditions. Rabobank is forecasting a record indicative milk price of $8.40kgMS, 15% higher...
BoM: Wet weather to persist
According to the Bureau of Meteorology’s (BoM) latest Climate and Water Outlook, while La Nina conditions have eased slightly, the forecast is still for above average rainfall in eastern Australia from May to July. Modelling indicates a greater chance of a negative...
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