12 April 2021
The Australian dairy export index increased this week, the result of generally higher commodity prices and despite a stronger Australian dollar.
In spot quotes from Australasian exporters, butter rose US$110/t from the previous week to US$5,790/t. SMP was US$10/t higher to US$3,410/t. WMP also increased, up US$50/t from the previous week to US$4,100/t. Cheddar was unchanged at US$4,500/t.
The Australian dollar increased against the US dollar, ending the week at US76.c, with local macroeconomic data continuing to signal economic expansion despite the protracted inoculation program now facing Australia, but also limited demand for US dollars and despite weakening commodity prices.
The combined impact of these factors lifted the index by 0.8 points to 239.1.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers rose 3 cents to $7.07/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.