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 robust in April
April US exports increased across every product category we track in YOY terms, led by cheese with a 51% expansion (up 13,687t) relative to the same month last year. Most of the growth was in South Korea and Mexico, but also with healthy gains in Central and South...
Australian exports improving
Australian cheese exports rose 1.9% to 130,769t in the ten months to April, including a 34% increase in shipments to China & HK. Butter and AMF exports rose 133% and 77% respectively. Combined fat exports (in commercial butter equivalent) were up 113.3% for the...
Floods clean up underway in South Island
New Zealand farmers and growers have started the clean up after the one in 100 years event that flooded Canterbury in the South Island a week ago. The New Zealand Government has activated its Enhanced Taskforce Green along with NZ$500,000 to help with the clean-up....
Sth Island flooding
The Canterbury region has been hit by floods with a state of emergency issued for the region and Civil Defence warning of ongoing dangerous river conditions and further flooding. Residents across Canterbury districts are being evacuated with emergency alerts to be...
EU milk growth improves
There were mixed YOY trends among major producing countries in April, but with an aggregate 1.5% YOY expansion for the month. This is based on data for roughly a third of average EU-27 milk production reported to Eurostat. Milk growth in Ireland and Poland for April...
GDT index falls: butter slides almost 5%
There were falls across average prices for commodities which took the index 0.9% lower. The result was more positive on a like-for-like basis in regular product once some variations in form and origin are taken into account. SMP fell by $32/t to average US$3,415/t,...
Global trade surged on weak comparables in March
Freshagenda's latest Global Dairy Directions (GDD) Trade Insights Monthly report shows March exports grew 13.2% YOY in milk solids equivalent (MSE) terms, pulling trade for Q1-2021 2.1% higher. There are big distortions in the numbers in the first quarters from COVID...
Fonterra announces 2021/22 range
Fonterra announced an opening forecast Farmgate Milk Price for the 2021/22 season with a huge range of $7.25 - $8.75 per kgMS, a midpoint of $8 per kgMS. It narrowed its 2020/21 forecast Farmgate Milk Price range, which reduces the midpoint by 5 cents to $7.55 per...
NZ milk collections up 11% in April
April milk production jumped 11.6% YOY on a milk solids basis and 11.7% YOY on a milk tonnage basis according to the latest data from DCANZ. April output is 8.4% ahead of the 5-year monthly average and season to date production was 2.4% ahead of the season prior. The...
GDT: fats a little weaker
GDT event #284 was quiet but for the continued weakening of butter prices, but changes this time were much smaller than the plunge at the previous event. The index lost just 0.2%. Chinese buying again dominated the results for milk powders with demand remaining higher...