Period: September 4 – 15, 2017
The new milk production year in Australia begins with and increase of +2.72% in July over July 2016.
In New Zealand, increases in early season milk production are widely expected to continue, boosted by the higher milk pay prices: a number of observers project 3% seasonal growth.
Higher milk production will help to meet expected strong demand from China. Exports of Butter, Cheese and SMP to China increased in July and indicators are that Chinese importers will continue to acquire dairy products needed by early 2018.
Cheddar prices in Oceania firmed. Buying interest in Oceania and export inquiries are increasing.
SMP prices are unchanged. The gap between respective buyer-seller expectations is slowing down trading in the current period. Weaker prices are expected in the near term.
WMP prices in Oceania are slightly weaker. Signs of higher milk production in New Zealand in the near term have given rise to some cautions among buyers as to potential volumes of WMP that will become available.
Yesterday’s GDT auction change in price index was +0.9%.
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China increased its SMP import from New Zealand
– Dairy season: July, 1st – June, 30th (Australia), June, 1st – May, 31st (New Zealand);
– Source: USDA summarized by the CLAL Team
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The CLAL.it team is composed of young people who with the help of Computer Science study the dairy market and develop tools to provide the Operators of the dairy sector with a comprehensive real-time view of the national and international market trends.
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