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

Irish milk down 5.9% in March

Irish milk down 5.9% in March

Irish milk production was down 5.9% in March, according to an update from the Central Statistics Office. Irish milk continues to trend down, albeit at a slower rate than prior months. Fat content was 4.4% up from 4.35% in March 2023, while protein composition fell...

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Fonterra Shifts Direction

Fonterra Shifts Direction

Fonterra has announced a major change in its strategic direction, and will explore full or partial divestment options for some or all of its global Consumer business and brands, including the integrated Fonterra Oceania which is the recently merged Fonterra Brands New...

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GDT Prices Up 1.8%

GDT Prices Up 1.8%

The price index rose 1.8% during GDT event #355 following two negative Pulse auctions, and despite the lowest Chinese participation since June 2011. WMP led the way with prices rising 2.5% to average US$3,350/t. SMP prices edged higher, averaging US$2,551/t, a 0.4%...

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Irish milk down 5.9% in March

Fonterra Output Down in March

Fonterra milk collection fell 2.4% YOY in March to 134.4mkg of milksolids, with seasonal to date intake flat at 1,283.4m kg of milksolids. The fall in March output is attributed to unfavourable weather in the North Island, partially offset by good conditions in the...

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Irish milk down 5.9% in March

US March Milk Down 1%

US milk production fell 1% YOY in March according to the USDA, reflecting a continuing decline in the dairy herd. Average yield per cow was flat YOY while cow numbers were down 1% YOY in March. At 9.335m, March cow numbers were down 7,000 head on the prior month and...

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Irish milk down 5.9% in March

NZ March Milk Output Falls

Milk production was down 1.2% YOY on a solids basis in March, taking season-to-date production 1.1% ahead of the prior year. Milk intake fell 3.5% YOY on a volume basis with seasonal output trailing 0.2% behind the prior year comparable. The drop was just short of...

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GDT Prices Up 1.8%

GDT Stalls

The price index edged 0.1% higher at event #354 on a reduced offering for now but news of higher deliveries in coming months. SMP was flat on average, down 0.4% to US$2,541/t as later contract periods flattened, offsetting a 2.6% increase in Fonterra MH C2 price....

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Fonterra Shifts Direction

NZ: Fonterra Plant Closures

Fonterra will close a number of ageing plants at two Waikato sites in an effort to optimize operations. Fonterra’s Waitoa PDC, a coal centre and two dryers in Te Rapa are no longer efficient to operate and will close later this year.     The Te Rapa driers will close...

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Irish milk down 5.9% in March

Prices Lift on Pulse

Regular grade WMP prices rose at this week’s GDT Pulse event with prices up 0.6% against GDT event #353 and 5.1% ahead of the previous Pulse event at US$3,215/t. Instant WMP settled at US$3,310/t, taking the weighted average WMP price  to US$3,280/t. Futures settled...

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Irish milk down 5.9% in March

Australian Exports Continue to Grow

Australian exports were up 5% for the season to February in milk solid equivalent terms. The increase was led by increased shipments of cheese, milk powders, butter and dry whey.      Exports were ahead in the month of February across most dairy products except milk...

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