by Freshagenda | Dec 5, 2024 | GDT, Global
The GDT Index delivered a small gain at event #369, +1.2% as the weight of WMP trades offset red ink across other major products and most contracts. WMP continued to push higher, averaging US$3,984/t up 4.1% on the prior GDT, with most contracts higher. SMP drifted...
by Freshagenda | Dec 5, 2024 | Australia, Volume trends
Milk production rose 1.3% YOY in October—the highest peak month since 2021. Season to date output was +1.7% ahead of the same period a year ago. In Victoria, October production lifted 1.9% YOY due to a 6.2% increase in Gippsland milk intake and a 3.3% YOY lift in the...
by Freshagenda | Dec 5, 2024 | Global, Volume trends
US Cheese production increased 1% YOY in October according to the USDA, on flat manufacturing milk availability. American cheese output fell 0.2% YOY for the month—with a 3.1% decline for cheddar—while “other cheese” (including mozzarella) increased 1.7% YOY. Combined...
by Freshagenda | Dec 5, 2024 | Global, Prices
Fonterra has raised the midpoint of its forecast milk price for 2024/25 to NZ$10kgMS, with a range of NZ$9.50kgMS—NZ$10.50kgMS, reflecting continued strength in the global dairy market. CEO Miles Hurrell said Chinese demand recovery and ongoing strong demand from...
by Freshagenda | Dec 5, 2024 | Australia, Forecast
Dairy Australia (DA) continues to forecast a slight drop in national milk production to 8.3bn litres in 2024/25. While output has been ahead so far this season, drier conditions, reduced incomes and longer-term challenges around labour and farm exits will constrain...
