15 June 2021
The Australian dairy export index increased this week, the result of a lower Australian dollar and despite weaker SMP commodity prices.
In spot quotes from Australasian exporters, SMP prices fell US$20/t from the prior week to US$3,480/t. Cheddar, butter and SMP were unchanged at US$4,450/t, US$4,800/t and US$3,500/t respectively.
The Australian dollar was down, ending the week at US77.1c, reflecting weaker commodity prices and technically bearish indicators against the US dollar.
The combined impact of these factors lifted the index by 0.8 points to 230.9.
The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers rose 3 cents to $6.72/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.