21 September 2020
The Australian dairy export index increased this week, with mixed trends in commodity prices and despite a marginally stronger Australian dollar.
In spot quotes from Australasian exporters, SMP prices were US$200/t higher from the prior week at US$2,900/t. Cheddar was also stronger – up US$80/t from the previous week to US$3,780/t. Butter quotes were US$140/t weaker at US$3,400/t however. WMP was unchanged from the previous week to US$2,950/t.
The Australian dollar rose against the US dollar, ending the week marginally up at US72.9c after RBA indicated interest rates would remain low and stimulus remain in place for some time.
The combined impact of these factors lifted the index by 4.4 points to 198.5.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers rose 16 cents to $5.18/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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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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