Period: November 12 – 23, 2018
Milk production is steady to slightly down in South America, as temperatures continue increasing as the summer season approaches. However, in Brazil, Perú, and Ecuador, cows’ milk output is still growing while the highest seasonal peak is close (generally between December and January).
Milk and cream volumes are enough to cover most manufacturing requests, while the retail/food service demands for bottled milk, cheese, yogurt, milk caramel, and butter are robust.
SMP export prices are unchanged in South America. SMP production is limited, thus inventories remain tight on a strong market. Exports to Brazil are active, while trades outside the continent are light.
WMP export prices are steady on moderate trading. WMP supply is above customers’ demands, while drying schedules for condensed milk are very active, prompted by ample farm milk intakes.