CME: International Prices Softer But US Exports Strong
US - US dairy exports remained strong in August, writes Alan Levitt.
14 October 2011
1 minute read
Total shipments were valued at $427
million, up 26 per cent from a year ago and up five per cent from July, according to USDA/FAS data
released this morning (see chart).
NDM/SMP exports were 36,309 tons (80.0 million
lbs.), up one per cent from last year and down two per cent from July.
In August, exports were equivalent to
53 per cent of NDM/SMP production. Butterfat, whey and lactose exports increased in August
versus July, USDA/FAS says.
However, cheese exports hit a nine-month low of 15,525 tons
(34.2 million lbs.), down 10 per cent from a year earlier and down five per cent from July.
International prices continue to trend slighly lower in Dairy Market News’ biweekly
survey.
Oceania SMP is marked at $1.44-$1.59 (down about 2¢ from two weeks ago),
82 per cent butter is $1.63-$2.04 (-2¢) and cheddar cheese is $1.74-$2.06 (-5¢). European
prices for SMP, WMP and butter were mixed from two weeks ago.
Softer world prices for SMP are putting downward pressure on US markets.
“Prices for Western low/medium heat nonfat dry milk continue to
trade lower as producers discount powder to keep product moving and to remain competitive,” says DMN, which priced Western powder at $1.42-
$1.4950 this week, the lowest since early February.
Further Reading
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