Butter and Cheddar prices moved higher [News Oceania n°9/2019]

Period: April 15 – 26, 2019

Limited supplies of new season hay are available in Northern and Southern Australia. More expensive hay is still being transported from other regions. Government subsidies remain available to help producers through this difficult period.

New Zealand
-8.2% milk production
March 2018 yoy

Very severe dry weather has arrived in New Zealand, especially the North Island. This has noticeably impacted milk production. March 2019 milk production was -8.2% from March 2018. This is the first decline in the current season, started in June 2018, which records an overall +3.2%.

CLAL.it - New Zealand milk production

CLAL.it – New Zealand milk production

Dairy commodities prices

Oceania SMP and WMP average prices are steady to lower and are expected to remain relatively steady in coming months.

Oceania Butter prices moved higher and remains lower than in Western Europe. Less butter is being made late in the season and demand remains active.

Also Cheddar prices firmed, thanks to a good profitability of making Cheddar and a strong demand. Spot market availability is tight and that is contributing to price firming.

CLAL.it - New Zealand Cheese price

CLAL.it – New Zealand Cheese price

CLAL.it - New Zealand Butter price

CLAL.it – New Zealand Butter price

– Assessments about market trend are expressed in US$;
– Dairy season: July, 1st – June, 30th (Australia), June, 1st – May, 31st (New Zealand);
– Source: USDA summarized by the CLAL Team

TwitterLinkedInFacebook... share

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.

Posted in News Oceania EN, Oceania_