20 May 2019
The Australian spot commodity milk value (CMV) rose this week due to a weaker Australian dollar, commodity prices were mostly unchanged.
In spot quotes from Australasian exporters, butter prices fell US$45/t from the prior week to US$5,545/t. After falling the week prior, prices for cheddar, WMP and SMP were all unchanged, however. SMP quotes remained at US$2,513/t – Oceania prices are still at a healthy premium relative to the EU and the US. Cheddar and WMP prices were also unchanged from the prior week at US$4,200/t and US$3,250/t respectively.
The Australian dollar lost ground against the US dollar, ending the week at US$0.6860 – reflecting the uncertain Federal election outcome, a slowing local economy and continuing fears stemming from the US-China trade wars.
The net effect of these changes added 4.4 points to the index, which now stands at 233.7 – its highest point since 24 March 2014.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers fell 4 cents to $6.91/kgMS.
Take Note: – The index is an indicator of spot trends in gross export returns to the Australian dairy industry based on quoted Australasian dairy commodity export spot prices, movements in currency and the mix of total milk usage in product exports by the Australian industry.
This index was set at 100 on 1 January 2000.
Freshagenda’s Australian Dairy Export Index is an indicator of spot trends in gross export returns to the Australian dairy industry calculated by Freshagenda
The Australian Dairy Export Index is an indicator of average spot quotes from Australian exporters and in one of many ways specialist food industry consultants Freshagenda monitor developments in Australia and global dairy markets.
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- We have a working commercial understanding of the dynamics affecting key agrifood sectors and supply chains.
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- We maintain an ongoing watch on major developments and global change agendas that impact the food industry.
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Freshagenda have a track record of assisting decision makers assign priorities and direct policy based on the relative size of segments and pressure points affecting their value chains, and have delivered a number of consulting services and analysis to industry, government and corporate clients.
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A forward looking tool that allows dairy companies, brokers, traders and processors to project the outcome of future scenarios in global and local dairy markets based on variable key assumptions.
Built in Microsoft Excel, our Global Dairy Directions platform uses historical data along with a big set of macros, allowing users to run queries, test scenarios and project future possible outcomes in their part of the dairy industry. It spans the globe as it contains data from key dairying regions all over the world and thus can be used as a tool to help navigate strategic planning at management level.
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