Period: April 29 – May 10, 2019
Australia-6.7% milk production
New Zealand milk production is falling rapidly toward the low point during June-July. Slowing economic growth in China has been said to be causing pessimistic demand factors. Lower demand from China may impact WMP and Whey sales by New Zealand and could lead to lower milk pay prices in the coming season.
Dairy commodities prices
Oceania Butter prices are slightly up, especially for short term needs. Most current production is going to fill contracts.
The average SMP price has also strengthened. SMP drying activity has slowed by this late point of the milk production season. Buyers with near term needs often fare better seeking SMP fro brokers or traders.
Oceania Cheese prices are steady to lower. Cheese manufacturing has slowed. Regular Buyers tend to be contracted and spot markets have light activity.
WMP prices are very slightly lower, due to the nature of a market fluctuation. General price stability is expected in coming weeks.
– 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