butter,
Milk Production,
price,
SMP,
WMP
Butter sales boost prices upward
September 2018 New Zealand milk production was +6% from September 2017. The cumulative June-September increase, first quarter of the 2018−19 dairy season, was +5.8%.
In Oceania, recent Butter sales have been robust, leaving lower supplies available. That has boosted prices upward. EU pricing is also pulling Oceania prices up.
WMP prices are steady. January prices firmed, suggesting more medium-term demand than had been expected.
SMP prices are slightly weaker than previous prices, but this is minor price adjustments. Cheddar Cheese prices are also decreasing.
New Zealand exports in the first 9 months of 2018 are positive for Butter (+12%), sold mainly to China, but negative for SMP, WMP, Cheese and Cream.
Australia exports, in the first 8 months of 2018, increased for Butter, WMP and Cheese, and decreased for SMP and Cream.
