Period: April 2 – 13, 2018
The milk productions in Argentina, Uruguay and Brazil are in line with seasonal trends.
Heavy rains saturated sections of the central region of Argentina, arriving too late for summer crops but increasing moisture reserves for winter grains. Overall, milk intakes are enough for most processing needs, but cream supplies are still tight.
The supply of milk in Uruguay is sufficient for most processing needs, but the race for cream among several processors, including butter churners and cheese makers, is strong as supplies are scarce.
Unseasonable rain showers improved conditions for second-crop corn and cotton in key dairy states of northeastern Brazil, relieving several weeks of dryness in some dairy basins.
SMP availability is slowly growing in South America, since several processors are skimming milk in order to increase cream volumes. Maximum export prices increased slightly.
WMP inventories are sufficient for most regional manufacturing needs, but are limited for export. Lower WMP imports are boosting WMP prices in Brazil. The bottom of the export prices range decreased slightly, mirroring moderate export transactions from Mercosur to Russia and Algeria.
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