AusExport Index

18 November 2019

The Australian dairy export index increased this week, the result of stronger commodity prices and a weaker Australian dollar.

In spot quotes from Australasian exporters, Cheddar prices rose US$100/t from the previous week to US$3,900/t. WMP prices were also higher – up US$50/t from the prior week at US$3,300/t. Butter rose US$10/t from the previous week to US$4,180/t. SMP prices were unchanged at US$2,940/t.

The Australian dollar lost ground against the greenback, ending the week at US$0.6790, reflecting a local labour market weakness and US-China trade outlook uncertainty.

The combined effect of these changes lifted the index by 7.2 points to 225.2, a 24-week high. Since January 2000, the index has only been higher than this level only 4.5% of the time – that’s 46 weeks out of more than 1,030!

The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers rose 29 cents to A$6.66/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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