CME: Export Value Reaches Record High in November
US - Barrels traded 3¢ lower, sending Class III futures tumbling. FEB-JUN milk futures lost 29¢ Friday, writes Alan Levitt.
16 January 2012
1 minute read
Blocks were unchanged; they have traded in a range of $1.56 to $1.61 for the last
month. Spot butter held unchanged, but it wasn’t enough to avert a third straight day of
declines in butter futures. Whey futures settled in the red as well.
US dairy exports reached a record high $434 million in November, up 45 per cent from a year ago,
according to USDA/FAS trade data released this morning. Gains were led by cheese (20,098
tons/44.3 million lbs., +53 per cent); NDM/SMP (37,331 tons/82.3 million lbs., +11 per cent) and WPC
(19,179 tons/42.3 million lbs., +34 per cent).
Overall export volume of milk powder, whey, lactose,
cheese and butterfat was up 11.2 per cent from October (daily average basis) and up 9.2 per cent from a year
ago, USDA/FAS says.
In November, the United States exported 52 per cent of the NDM/SMP produced, five per cent of the cheese and 5.7 per cent of the butterfat.
NASS dairy product prices for the week ending 7 Jan: cheddar blocks $1.5810 (-5.70¢ vs. the prior week); barrels $1.6036 (-0.58¢); butter $1.6015
(+1.42¢); nonfat dry milk $1.4133 (+1.27¢); dry whey 67.91¢ (+0.84¢).
CME Group will be closed Monday, 16 Jan, in observance of Martin Luther King Jr. Day. Globex trading for dairy will resume at 5pmCT on Monday for
Tuesday’s trade date.
Further Reading
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