AusExport Index

 

22 November 2021

The Australian dairy export index increased this week, the result of stronger commodity prices and a weaker Australian dollar.

In spot quotes from Australasian exporters, cheddar prices rose US$150/t from the prior week to US$5,000/t. Butter also increased US$150/t from the prior week to US$5,480/t. SMP was also stronger, up US$40/t from the prior week to US$3,690/t. WMP was unchanged at US$4,000/t.

The Australian dollar was weaker, ending the week at US72.3c, reflecting strength in the US dollar (on the back of strong retail sales data and hawkish comments by the FED) and disappointing local wages data.

The combined impact of these factors lifted the index by 9.5 points to 268.8, an 87-week high.

The weekly spot commodity milk value (CMV) for southern Australian dairy manufacturers rose 41 cents to $8.28/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.