Wednesday, July 6, 2022

Agrifax Dairy Commentary – 31 May 2013

Dairy commodity prices for Oceanic sourced product have eased slightly.  

Prices for nearby deliveries are still very firm.  The next GlobalDairyTrade auction has a little more product available on it than the previous auction as more of the contract periods now relate to new season product.  Therefore it is likely that we will see some reduction in average prices due to the downwards sloping forward pricing curve that is currently present in the market.  Fonterra’s annual forecast of GDT offerings has been revised.  An additional 13,500 tonnes of WMP has been added, bringing the annual forecast to 508,500 tonnes.  Fonterra and Westland released their forecast milk prices for the 2013/14 season.  Both companies plan to pay $7/kg milksolids (kgMS) for milk deliveries next season.  This is significantly more than the $5.80/kgMS that Fonterra are currently offering for milk delivered in the year to May 31, 2013.  

Agrifax Dairy Commodity Price Survey – US$ per tonne

 

US Currency

 

 

 

 

 

 

 

 

 

31-May-13

24-May-13

17-May-13

10-May-13

03-May-13

01-Jun-12

Butter

 

4350

4350

4150

4600

4500

2750

Skim Milk Powder

 

4700

4700

4750

5000

5000

2700

Whole Milk Powder

 

4900

5000

5000

5300

5300

2700

Cheddar Cheese

 

4400

4300

4500

4450

4450

3900

Casein – Acid

 

10800

10500

10500

10100

10100

8600

Anhydrous Milkfat

 

4850

4850

4750

5000

4900

2900

 

 

 

 

 

 

 

 

Weighted Average

 

5010

5020

5020

5250

5230

3180

Total
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