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 March Milk Down 1%
US milk production fell 1% YOY in March according to the USDA, reflecting a continuing decline in the dairy herd. Average yield per cow was flat YOY while cow numbers were down 1% YOY in March. At 9.335m, March cow numbers were down 7,000 head on the prior month and...
NZ March Milk Output Falls
Milk production was down 1.2% YOY on a solids basis in March, taking season-to-date production 1.1% ahead of the prior year. Milk intake fell 3.5% YOY on a volume basis with seasonal output trailing 0.2% behind the prior year comparable. The drop was just short of...
Saputo workers walk off
Workers at Saputo’s Burnie cheese plant have walked off the job, with the Australian Manufacturing Workers Union (AMWU) claiming maintenance workers at the site are paid 21% less than their mainland counterparts. The AMWU puts the gap between Tasmanian and mainland...
Cattle Market Steadies
Cattle markets have steadies in 2024 after the wild swings of 2023 and 2022. The EYCI is still weaker than YOY, but according to Mercado better prices are likely over the coming weeks, with current fundamentals it making “prices tanking in the same fashion they did...
GDT Stalls
The price index edged 0.1% higher at event #354 on a reduced offering for now but news of higher deliveries in coming months. SMP was flat on average, down 0.4% to US$2,541/t as later contract periods flattened, offsetting a 2.6% increase in Fonterra MH C2 price....
NZ: Fonterra Plant Closures
Fonterra will close a number of ageing plants at two Waikato sites in an effort to optimize operations. Fonterra’s Waitoa PDC, a coal centre and two dryers in Te Rapa are no longer efficient to operate and will close later this year. The Te Rapa driers will close...
Warmer Oceans Influencing Weather Outlook
Below median rainfall is expected for some regions in the south, with equal chance of above and below median rainfall for most of the country from May to July The Bureau of Meteorology (BoM) latest long-range forecast is for warmer than median temperatures for almost...
Victoria Agrees to Revamped MDB Plan
After refusing an extended $13bn Murray-Darling Basin Plan (MDBP) last year, Victoria has changed its tune, while affirming the state’s stance against voluntary water purchasing from farmers. By agreeing to the plan, Victoria’s water minister Harriet Shing has...
Prices Lift on Pulse
Regular grade WMP prices rose at this week’s GDT Pulse event with prices up 0.6% against GDT event #353 and 5.1% ahead of the previous Pulse event at US$3,215/t. Instant WMP settled at US$3,310/t, taking the weighted average WMP price to US$3,280/t. Futures settled...
Australian Exports Continue to Grow
Australian exports were up 5% for the season to February in milk solid equivalent terms. The increase was led by increased shipments of cheese, milk powders, butter and dry whey. Exports were ahead in the month of February across most dairy products except milk...
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