New Zealand milk production recovers [News Oceania n°16/2017]

Period: October 30 – November 10, 2017

July-September milk production in Australia increased by +1.01% over July-September last year.

Expansion of dairy processing capacity in Australia was announced last week by Fonterra. Current plants of the coop have reached full capacity.

Fonterra repeated its 2017-18 season forecast farmgate milk price of AUD 6.75 per kilogram of milksolids (kgMS). Converted into milk, the price is 32.02 €/100 kg of milk 4.0% fat and 3.4% protein mass/mass (ref. Germany, current change of reference: 1AUD = 0.641€).

New Zealand
+2.7% milk production
Oct 2017 y-o-y

June-October milk production in New Zealand increased by +0.93% over the same period last year. October 2017 New Zealand milk production was 3.12 million MT (+2.7% from October 2016).

Cheddar cheese prices in Oceania are mixed. The market overall is comfortable for manufacturers and buyers.

Butter prices weakened at the bootom of the price range. Slower current interest from China is cited as a factor, in addition to global pricing.

SMP prices in Oceania also follow recent regional and global trends and are steady to lower. Large stocks of SMP continue to be a driving factor.

WMP price weakening is generating concern as to

potential spillover to  milk prices.

WMP prices weakened further. This is generating concern as to potential spillover to milk prices. Lower than expected demand from China could be a reason for the last GDT outcome.

The next two auctions are considered critical in determining how farm milk pay prices will fare this season.

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CLAL.it - New Zealand milk production

CLAL.it – New Zealand milk production

- 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

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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.

Posted in News Oceania EN, Oceania_