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
Pulse Prices Declines
Regular grade WMP and medium heat SMP prices fell at this week’s Pulse compared to last week’s GDT #379. Regular grade WMP settled at US$4,335/t, declining 3% from GDT #379 but 3.3% above prices achieved at the prior Pulse event. The nearest SGX-NZX futures contract...
More Chinese Manufacturing Milk In March
Chinese milk production declined 2.9% YOY in March – the 10th successive monthly contraction, according to the latest China Dairy Monthly Report. Liquid milk consumption fell 10.1% YOY for the month, implying a 14% increase in “manufacturing milk”. Weekly milk prices...
GDT Delivers Stunning Result
GDT #379 delivered a 4.6% price index increase. Despite the uncertainty facing the global economy, particularly trade in the Asian region suppliers showed up to secure product at the smallest offering of the season. WMP regular product lifted almost 9% to US$4,470/t,...
Australian Exports Down in March
Australia’s March exports declined 7.8% YOY in milk solids equivalent terms (MSE), led by falls in milk powders, cheese, butter and dry whey. March cheese exports fell 2.5% YOY, with reduced shipments to Japan and SE Asia accounting for most of the decline. Cheese...
Pulse Edges Higher
Regular grade WMP prices lifted 1.6% at this week’s Pulse event compared to the prior Pulse and 2.2% on GDT #378, settling at USS$4,195/t. Instant grade WMP settled at US$4,295/t, bringing the weighted average of WMP sold to US$4,225/t. The closest SGX-NZX futures...
EU Milk Down 1.7% In February
EU27 milk production was down 1.7% YOY in February (leap-year adjusted) according to Eurostat and AGEA (Italy). Collections in Germany continued to decline YOY, but also fell in France, Ireland, Netherlands and Belgium. Poland remained in expansion mode, albeit at a...
Pulse Prices Mixed
This week’s GDT Pulse event was mixed with WMP lifting and SMP declining on last week’s GDT auction. The 24 winning bidders purchased 1,721t of the 1,750t on offer. Regular WMP was up 0.6% from GDT #378, settling at US$4,130/t—3.8% higher than the previous Pulse...
US Milk Production Lifts In March
Milk production increased 0.9% YOY in March. US cow numbers increased by 8,000 compared to February. The USDA revised the February number down 8,000 head. The US herd has expanded 81,000 head since July 2024 and is the largest it has been since May 2023. California...
NZ Milk Solids Lift 0.8% In March
New Zealand milk solids production rose 0.8% YOY in March, taking season-to-date solids output 3.0% ahead of the prior season. On a tonnage basis, output rose 0.6% YOY for the month with season-to-date volumes 2.2% ahead of the previous year. Production...
GDT Price Index Lifts
The overall price index lifted 1.6% at GDT event #378, driven by firmer NZ WMP and AMF prices. EU product prices contributed with moderate rises in US dollar terms on small underlying changes. SMP prices firmed a little, with NZ Medium Heat adding 1% or US$30/t at C2,...