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
US exports surge
US dairy exports were 19.2% of national milk solids supply in June – that was up from 15.7% for the same month in 2021 and a record high. The overall strong result in shipments for the month reflects very strong exports of cheese and lactose, which more than offset...
NZ milk price forecast under pressure
NZX has lowered its current season price forecast by 44c to NZ$9.01kgMS, with a tightened range of NZ$8.79 to NZ9.49kgMS. Two consecutive GDT price falls are crushing milk price expectations and reflect current market volatilty. However, NZX analysts stress the...
Irish supplies still falling
Irish milk production fell 0.6% YOY in June to 1,092mn kg – that was the fourth consecutive monthly decline, reflecting strong prior year comparables and dry weather conditions. Netherlands is the only other major producer having published June data on Eurostat –...
GDT falls another 5%
This week’s event outcome looks quite similar to the previous with weak demand across commodities to again deliver the expected moderate losses across milk powders as had been anticipated in SGX futures. This time butter demand was also weak, and it took the biggest...
US milk up 0.2% in June
After falling for seven consecutive months, national milk supplies edged up 0.2% YOY in June according to the USDA. The overall increase in June was a result of a 0.8% YOY decline in cow numbers while yields were up 1% YOY- the strongest lift since August last year....
NZ June milk grew slightly
New Zealand milk production grew slightly in milksolids terms after 10 months of YOY declines. While the seasonally lowest milk production month June production of 20.9 mkg of milksolids was up 1.1% YOY. Milk production in volume terms (litres) was flat in June...
Another moderate fall on GDT
This week’s event delivered the expected moderate losses across milk powders that had been anticipated in SGX futures markets and the weaker sentiment in the northern hemisphere. The index fell 5%. Demand for all major commodities was weak – SMP near the lowest seen...
EU bakes
Five countries have declared states of emergency or issued red alerts as temperatures broke records across northern Europe. The deadly heatwave spreading across Europe is breaking temperature records, fuelling wildfires and disrupting transportation, and is without...
Global dairy trade down in May
Analysis from Freshagenda's Global Dairy Directions platform indicates global trade fell 3.6% relative to the prior year comparative in May in milk solids equivalent (MSE) terms. That result followed a near-flat result in April, bringing trade over the last quarter...
French supplies still falling
According to the most recent data, French milk production fell 2.4% YOY in week 26 this year (ending 3 July 2022), the 14th consecutive weekly contraction. German supply rose 0.3% YOY in week 25 however, reflecting a weak prior year comparable and is expected to...