Australian dairy exports were down 2.6% YOY in the first quarter of the season in milk solids equivalent terms, led by falls in cheese and fats.

Shipment trends were mixed for the month of September, however. Cheese exports rose 6.4% YOY – this mostly reflected stronger sales into China & HK, SE Asia and Japan. September SMP exports were 9,267t – up 6% YOY while WMP rose 6.3% YOY (but volumes remain negligible). Fat exports fell 9% YOY in commercial butter equivalent terms in September – AMF was down 23% YOY and butter fell 1.5% YOY.