Global Market Updates

Milk from Australian dairy farms are made into products that are sold locally and in countries around the world. Understanding what is happening in all these markets will provide an insight to important trends that strongly influence Southern Region farmgate milk prices. Keep up to date with the latest global dairy market developments

GDT Index Edges Higher

GDT Index Edges Higher

There was some anxiety that GDT #360 would cause further damage to ingredient and butterfat prices with the increased seasonal offering pitching into a lacklustre market. That was not the case as early-round demand was generally close to average except in SMP. WMP...

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EU-27 Milk Up 0.7% In May

EU-27 Milk Up 0.7% In May

EU-27 milk production increased +0.7% YOY in May, the fourth consecutive monthly expansion according to Eurostat and AGEA data. Poland again accounted for most of that growth, up +4.5% YOY. Germany was flat and French supplies increased +0.3% YOY. There was also solid...

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GDT Index Edges Higher

Pulse Prices Down

The latest Pulse event was a return to negative for both regular grade WMP and medium heat SMP prices.  Regular grade WMP prices fell -1.6% from GDT #359 to US$3,150/t. The price is -5.8% lower than the previous Pulse result. The nearest SGX-NZX WMP futures contract...

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Synlait Shareholders Vote On NZ$130m Loan

Synlait Shareholders Vote On NZ$130m Loan

Synlait Milk’s future lies in the hands of shareholders who will vote on whether to accept a NZ$130m loan from Bright Dairy. Synlait second-largest shareholder a2 Milk Company, is voting in favour of the NZ$130m loan. Significant loan repayments will fall due over the...

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GDT Index Edges Higher

GDT Index Corrects

A large butterfat correction led the price index down -6.9% at GDT event #359, with a large seasonal step up in volumes offered. Butter crashed -11% on average to US$6,546/t with C1 losing almost US$1,100/t. AMF prices were almost -11% down on average to US$6,517/t,...

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EU-27 Milk Up 0.7% In May

Polish Milk Up 4.5% In May

According to Eurostat, Polish milk supplies rose +4.5% YOY in May – that was the 32nd consecutive monthly expansion. German milk supplies continued to track higher according to most recent published weekly data – output rose 1.2% in week 25 (ending 22 June 2024)....

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GDT Index Edges Higher

Pulse Prices Ease

Prices fell at the GDT Pulse #54 compared to prices achieved at GDT #358 for both regular grade WMP and medium heat SMP.       Regular grade WMP settled at US$3,345/t, down -1.2% from GDT #358 and -2.1% lower compared to the previous Pulse event. Medium heat SMP...

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EU-27 Milk Up 0.7% In May

Fonterra Intake Down 5.6% For May

Fonterra’s milk intake fell 5.6% in May to 71.6m kg of milksolids. This bought 2023/24 milk collections to 1470.9m kg of milksolids 0.6% the season prior. In its Global Update Fonterra reported unfavourable pasture quality impacted collections in the North Island. In...

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GDT Index Edges Higher

GDT Price Index Falls

The GDT price index fell -0.5%, the first negative move in six events, largely due to weaker WMP, offsetting gains in SMP and butter. SMP prices fell rose US$44/t to average US$2,766/t, with demand holding on and pushing up later contracts at around US$3,000/t....

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EU-27 Milk Up 0.7% In May

EU Milk Output Up 0.5% In April

EU-27 milk production increased 0.5% YOY in April, the third consecutive monthly expansion. Poland again accounted for most of that growth, increasing output +5.4% YOY for the month. Output  in Germany and France rose +0.1% YOY each in April while Netherlands and...

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