Welcome to Dairyglobe, a weekly newsletter from Freshagenda covering major events in the domestic and world markets affecting the climate for the Australasian dairy industry.
First Take:
With our monthly Trade Insights report sent to subscribers this week, the Dairyglobe is all about exports! Our analysis of global activity for November shows trade reached an all-time high in rolling annual terms. Cheese and butterfat trade rose significantly for the quarter while SMP shipments weakened. Of the top 12 exporting countries, US exports grew the most in the three months to November, accounting for 52% of the increase. November US butter exports skyrocketed to its second largest monthly volume since August 2008. The US won significant market share in contestable cheese markets in November, and since then, prices have come down further, making US products more competitive.
GDT event #397 was memorable for several reasons. A technical glitch delayed results and the index climbed for a third consecutive event. All commodity values rose with a sharp rally for SMP as NZ MH SMP C2 lifted almost 11%. How long can this upside momentum continue?
This week’s highlights include:
- Australian December Milk Grows
- Fonterra Maintains Milk Forecast
- GDT Prices Lift
- US Milk Prices Down in December
- More Milk in Germany and France
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