Period: July 8-19, 2019
In Australia, weather conditions are mixed. Southwest and northern areas are very wet following heavy rains. This limits new season hay availability. Parts of New South Wales and Gippsland are very dry and crops are struggling under the dry conditions.
Zero Carbon Bill to curb New Zealand’s emissions
Dairy commodities prices
Oceania dairy commodities prices firmed.
More buying interest for Butter and SMP surfaced from the Middle East and Asia, pushing prices higher. Butter output is still low this early in the production season. Light early season regional SMP production is already committed and negotiations for Q3 and Q4 are underway.
Cheddar prices strengthened. Most current low season production is already committed to customers in Australia and New Zealand. New export commitments are still developing.
WMP production has a priority for early season milk availability, however output is relatively low, this early in the season. Most Buyers are now motivated to complete 2019 contracting, giving a price boost.
- 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