22 February 2021
The Australian dairy export index declined this week, alone the result of a stronger Australian dollar.
In spot quotes from Australasian exporters, butter prices rose US$60/t from the prior week to US$5,070/t. Cheddar was also higher – up US$20/t to US$4,300/t. SMP and WMP were unchanged at US$3,250/t and US$3,400/t respectively.
The Australian dollar rose against the US dollar, ending the week at US78.7c, reflecting stronger iron ore prices and despite a general stability in the US dollar.
The combined impact of these factors printed the index by 2.3 points to 215.2.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers fell 9 cents to $6.00/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.