Insight Focus
- Dairy prices in all three markets rebounded after a pullback.
- Demand for New Zealand’s dairy products grew.
- China, the major whey powder buyer was back after the Shanghai lockdowns were lifted.
After a pullback, the three markets rebounded this week. New Zealand dairy prices were still lower than other regions, and its price advantage increased. With the bearish outlook for dairy-product supply in Europe and supply chain disruptions in US, the demand for New Zealand dairy grew, which made major Oceania suppliers less dependent on the Chinese market, and the futures trend is obviously more bullish than the Chinese domestic spot trend.
New Zealand
- All New Zealand’s dairy products rose last week, with anhydrous milk fat and unsalted butter rising more than the other two products.
USA
- U.S. dairy price continued to go higher.
Europe
- European skim milk powder broke higher and stayed above EUR4,100 (USD 4,393) a tonne.
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