23 November 2020
The Australian dairy export index decreased this week, with mixed trends in commodity prices and a stronger Australian dollar.
In spot quotes from Australasian exporters, cheddar prices were US$30/t lower from the prior week at US$3,860/t, reflecting the direction at last week’s GDT event. SMP quotes were US$30/t stronger at US$2,820/t. WMP quotes were US$20/t higher from the previous week to US$3,050/t. Butter quotes were unchanged at US$3,880/t.
The Australian dollar rose against the US dollar, ending the week up at US73c, near yearly highs, reflecting a weakness in the greenback boosted by political uncertainty and record high COVID cases.
The combined impact of these factors pruned 1.3 points from the index which now stands at 202.8.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers fell 6 cents to $5.35/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.