Ronald K. OBrien II
@rko2milk
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Mexico Is Keeping U.S. Powder Market Afloat
By Ronald K. O'Brien II
President of Nui Markets North America
Milk powder, in its various forms, is one of the most heavily traded dairy products globally. The U.S. is one of the top exporters of milk powder, producing about 1.2
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Worth approximately €16bn in economic value across the island, dairy is Ireland’s largest indigenous industry and provides employment to about 85,000 people.
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Global Dairy Trade Event 325 concluded with the GDT Price Index up 3.2%
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Researchers found that milk from grass-fed cows had 147 percent more omega-3s than conventional milk and 52 percent more than organic milk
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Global Dairy Trade Event 330 concluded with the GDT Price Index up 3.2%
Key Results
AMF index up 4.7%, average price US$4,981/MT
Butter index up 4.9%, average price US$4,821/MT
Ched index up 5.7%, average price US$4,411/MT
LAC index not available, average price not available
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Either farmers control the amount of milk they produce, or the excess will control the number of farmers that produce it… We look to the farmer and say you need to own this problem
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Global Dairy Trade Event 342 concluded with the GDT Price Index up 4.3%
AMF index up 7.1%, average price US$5,310/MT
Butter index up 2.9%, average price US$4,940/MT
Ched index up 0.2%, average price US$3,858/MT
LAC index up 0.2%, average price US$599/MT
SMP index up 4.3%,
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Milk powder prices plummeted at Tuesday’s Global Dairy Trade (GDT) auction. Whole milk powder (WMP) plunged 10.9% to a seven-year low. Skim milk powder (SMP) values dropped 5.2% to their lowest level since early 2019. The GDT was so weak that it forced Fonterra to lower its 2023-
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@therealroseanne
Congrats; Show was great. First sitcom i have watched since 90's. John Goodman is the best. Good job convincing him to return
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The problem is not Canada’s dairy system, the problem is that there is too much milk produced in the USA
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Global Dairy Trade Event 331 concluded with the GDT Price Index up 2.5%
Key Results
AMF index down 2.4%, average price US$4,832/MT
Butter index up 2.4%, average price US$4,947/MT
BMP index up 0.8%, average price US$2,468/MT
Ched index up 4.5%, average price US$4,561/MT
LAC index
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Global Dairy Trade Event 340 concluded with the GDT Price Index up 4.6%
Key Results
AMF index up 5.3%, average price US$4,787/MT
Butter index up 3.8%, average price US$4,723/MT
Ched index down 1.7%, average price US$4,044/MT
LAC index not available, average price not available
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Global Dairy Trade Event 341 concluded with the GDT Price Index up 4.4%
AMF index up 3.7%, average price US$4,979/MT
Butter index up 1.3%, average price US$4,806/MT
BMP index up 0.6%, average price US$2,245/MT
Ched index down 4.8%, average price US$3,853/MT
LAC index down 1.3%,
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The U.S. butter market took off like a rocket. It soared 30ȼ last week and closed at $3.30 per pound, just shy of the all-time high set Thursday. The meteoric strength caught the market by surprise. U.S. butter output in January through July was record large, up 4% from the scant
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Highest producing cows were 38% more efficient in terms of carbon footprint per kg milk solids
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Austrian farmer has finally solved the mystery of why his cows had no milk - it was being drunk by three local pigs
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Dairy production is not a pastime, and survivability is not certain,” he suggests. “The future is managing risk. The multinational companies do it, and traders do it. Successful farmers will have to do it also.”
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At my local publix; All the UHT milk sold out. Plenty of nut juice though. Guess even panic shoppers still have some sense left
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2022 ytd Global Milk Production.
Shortage in milk globally due to limited supply in key producing areas
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Chinese demand for New Zealand’s key dairy export, whole milk powder, is looking “bleak” for the rest of the year and may not start to recover until next year, according to analysts at HighGround Dairy.
Demand from China, the world’s largest dairy market, has weakened as its
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Three-dollar butter is back. CME spot butter soared an astounding 28.25ȼ this week and closed right at the $3 mark. Exports are out of the question, but domestic demand is firm, and butter churns are running light. Cream supplies are tight thanks to lower milk output and fierce
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DAIRY HAS ENTERED ONE OF THE MOST UNIQUE market moments in over a generation. Feed prices have shifted to a five-year low, and dairy-beef calves are fetching market highs. Those record values have placed a lid on replacement numbers and that, in turn, has capped milk production.
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Corey Geiger, lead dairy economist with CoBank’s Knowledge Exchange, discusses his latest report, The Butterfat Boom Has Just Begun. Full-fat
#dairy
products were once cast as nutritional villains due to their high saturated fat content, but have made a resurgence as dietary
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Nui Markets is proud to announce the appointment of Ronald Kevin O’Brien II as president of Nui Markets North America.
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Dairy markets in Europe saw a surge in future butter prices last week, jumping from €5,600/t to €6,500/t.
One analyst said the price rise was due to a shortfall in milk supplies across Europe over the past few months, coupled with increased exports, with butter stocks reported
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The Wisconsin people are trying to find an enemy, when in reality the problem they have is they're overproducing
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Cheese now utilizes over 50% of the U.S. milk produced. Cheese and other dairy items need only components, not milk volume. Fluid milk continues to decrease in consumption. Butterfat is at record high prices, and milk protein is at decent prices. Are these prices just
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A slowdown in global milk production has collided with the near depletion of global milk powder inventories, and that bodes well for future milk prices both here and globally
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“It’s just all these regulations. There’s something being thrown out at animal agriculture all the time. Basically, they’re running us out of business … they’re killing the family farms,”
Though the dairy industry has lost more than 77,000 farms since 2000, the number of dairy
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@Jack_Raines
@GoldmanSachs
You have the warrior mindset. Not going to wish you luck because you make your own. Keep pounding
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China’s domestic dairy supply is awash with milk, resulting in cow-culling, raw milk dumping and a hit to supply of commodities from New Zealand...
Consumption is falling, while milk production has increased significantly during the global pandemic...
Concurrent with the
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If China – or any other foreign buyers – step up dairy product purchases to take advantage of today’s lower prices, dairy product supplies could tighten up in a hurry. But for now, there is plenty of milk, cheese, butter, and milk powder to go around, and prices remain low.
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Dairy farm numbers nationwide have plummeted from 53,127 in 2010 to 27,932 in 2022. That is a drop of 47% in just 12 years. Cow numbers are down as well. There were 9.4 million dairy cows nationwide in 2022, compared to 11.8 million cows in 1972.
Due to the efficiency and
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Analysis of 95 trials involving 203,269 individuals showed that milk and dairy products were not associated with body fatness in children
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European milk prices rise on tighter supply; Milk prices are lifting as dairy processors in Europe react to lower collections and higher market demand
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Rabobank: Despite lower dairy commodity prices, we anticipate dairy prices to remain elevated for consumers for some time yet, as dairy companies will continue to pass on high farmgate prices to retailers. Dairy price inflation is likely curbing demand to some degree (varying by
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Tighter milk supplies and lower milk solids output have stiffened competition among dairy processors. While there are no obvious winners, there is a clear loser. Around the country, lines at the dryer are short, and output is waning. In July, combined production of nonfat dry
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“When prices are bad, milk more cows. When prices are good, milk more cows.”
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With more cows in the barn, milk production climbed, but the increase was far from formidable. U.S. milk output reached 19.8 billion pounds in March, up 0.5% from a year ago. Milk yields did not impress, topping March 2022 by just 0.14%. In California, where cows have spent
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Rabobank predicts less milk, higher dairy prices
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Lakeland Dairies Increases Milk Price for July
A base price of 45.25c/L – based on 3.6% butterfat and 3.3% protein – will be paid for July milk in the Republic of Ireland. This is inclusive of the 0.5c/L Sustainability Incentive Payment.
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USDA released its Milk Production report this week, indicating that national output contracted in September for the third month in a row. Production for September totaled 18.21 billion pounds, a decrease of 0.2% compared to the same month last year. Lower production in the West
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GDT Price Index up 2.8%
AMF index up 2.3%, average price US$6,934/MT (€6,414/MT)
Butter index up 3.1%, average price US$6,592/MT (€6,098/MT)
BMP index down 0.5%, average price US$2,496/MT (€2,309/MT)
Ched index up 4.1%, average price US$4,340/MT (€4,014/MT)
LAC index
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Dutch dairy company Royal FrieslandCampina said it has had a remarkable business performance in the first six months in China and is bullish on growth potential in the country, fueled by rising demand for high-end infant formula from quality-seeking young Chinese parents.
"Our
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Just because your cost of production may be higher than what the market is currently offering you does not mean that prices must move upwards
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-New Zealand milk production for February 2024 was up 5.6% (up 6.5% on a milksolids basis)
-New Zealand milk production season to date was up 0.2% (up 1.4% on a milksolids basis)
-New Zealand milk production for the 12-months through February was up 0.9% (up 2.2% on a
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Dutch dairy farmers will have to cull between 60,000 to 100,000 cows in order to comply with EU phosphates limits
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It’s an extraordinary situation where Fonterra is able to get the full value of milk fat, which is now worth 1.3 times more than protein. Not every farmer in the world is getting those values passed back to them
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Recent falls in the milk price have partly been attributed to the “spring flush” – when cows naturally produce more milk as they are let out into fields – leading to oversupply. Yet dairy farmers clearly feel that they take the financial hit when milk processors and retailers
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China’s dairy consumption will evolve as it adds 120 million people to the over 50 age demographic. This will cause a pivot from infant formula to adult nutrition in the dairy space. Mary Ledman of Rabobank
About 5% to 10% of consumers will pay higher prices for products when it
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From 2023 to 2025, there is expected to be over $6 billion in new milk processing capacity under construction in the U.S. That is a strong signal that companies are willing to invest significant amounts of money to supply a growing demand for dairy products in both the domestic
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Algeria, the world’s second-largest importer of milk powder after China, is seeking more supply through its Government tender process.
“They'll consume a little bit more whole milk powder out of the world market and tighten things up a little bit,” Davison said. “We are moving
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The price of whole milk powder, which has the most impact on farmgate milk prices, gained for a third straight global auction, welcome news for dairy farmers as the industry heads into peak milk season.
Demand from North Asia had increased as Chinese milk production slowed, and
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Global Dairy Trade Event 345 concluded with the GDT Price Index up 1.6%
AMF index unchanged, average price US$5,573/MT (€5,128/MT)
Butter index up 0.7%, average price US$4,936/MT (€4,542/MT)
BMP index up 2.8%, average price US$2,387/MT (€2,196/MT)
Ched index up 9.7%, average
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DCANZ:
•NZ milk production for Sep 2021 was down 4.3% (down 4.0% on a milksolids basis)
•NZ milk production season-to-date was down 3.5% (down 3.1% on a milksolids basis)
•NZ milk production for the 12-months through Sep 2021 was up 1.3% (up 1.5% on a milksolids basis)
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Event Results
Global Dairy Trade Event 357concluded with the GDT Price Index up 1.7%
Key Results*
AMF index up 0.9%, average price US$7,417/MT (€6,827/MT)
Butter index up 1.7%, average price US$6,864/MT (€6,318/MT)
BMP index up 10.4%, average price US$2,845/MT (€2,619/MT)
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GDT Price Index up 2.8%
AMF index up 2.3%, average price US$6,934/MT (€6,414/MT)
Butter index up 3.1%, average price US$6,592/MT (€6,098/MT)
BMP index down 0.5%, average price US$2,496/MT (€2,309/MT)
Ched index up 4.1%, average price US$4,340/MT (€4,014/MT)
LAC index
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Global Dairy Trade Event 339 concluded with the GDT Price Index up 2.7%
AMF index up 2.7%, average price US$4,561/MT
Butter index up 1.1%, average price US$4,588/MT
BMP index down 6.5%, average price US$2,215/MT
Ched index down 0.6%, average price US$4,102/MT
LAC index not
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GDT up 2.3%
Key Results*
AMF index up 4.3%, average price US$5,842/MT (€5,338/MT)
Butter index up 5.8%, average price US$5,906/MT (€5,396/MT)
BMP index not available, average price not available
Ched index up 1.0%, average price US$4,217/MT (€3,853/MT)
LAC index up 1.3%,
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Aug 2023 New Zealand Milk Collections
-New Zealand milk production for August 2023 was down 2.1% (down 0.9% on a milksolids basis)
-New Zealand milk production season to date was down 1.9% (down 0.7% on a milksolids basis)
-New Zealand milk production for the 12-months through
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Last year’s record high prices fetched $27-28 dollars per 100 pounds of milk, but this year’s number is a total turnaround. Prices are down to $14-15 dollars for the same 100 pounds, and dairy farmers typically need around $21 to break even. This year farm prices are approaching
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The looming expiration of the 2018 farm bill will bring back the threat of the “dairy cliff,” the triggering of laws dating back to 1938 and 1949 that would force USDA to take steps to dramatically raise the price of milk, wheat and other commodities. Collectively, the 1938 and
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DFA, representing about 6,000 farms, has agreed to a bulk purchase of automated and data equipment from Ireland-based Piper Systems designed to improve milk collection, loading and sampling and ensure food safety through traceability on farms and tankers.
“It’s incredible when
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Wisconsin has lost nearly 10,000 dairy farms over the past 20 years. More than 400 dairy farms in Wisconsin shut down last year. Smaller farms are increasingly shifting away from dairy, being absorbed by bigger farms or closing all together.
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Prices at yesterday's Global Dairy Trade auction lifted off three-and-a-half-year lows with the index up 4.6%. The key whole milk powder index (WMP) also rose by the same amount, up 4.6% on the previous event.
The WMP gain builds on a 5.2% rise at the preceding GDT event in
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@TheNotoriousMMA
@ufc
He is inspiring. I always say I’d Rather be knocked out by the bull then be in the stands. Critics are envious. Good looking out for the kid Conor
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Arla Foods, one of the world’s biggest dairy companies, has proposed paying its entire 2018 net profit to farmers suffering one of the hottest and driest summers on record; It expects a profit of up to 310 million euros
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Tranquility and turmoil shape global dairy markets
Ronald K. O’Brien II, guest columnist for this week’s edition of Cheese Market News®.
If we look at dairy markets across the globe, there is a mixed bag of tranquility and turmoil. Some product markets are moving along at a
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U.S. milk output turned negative in July, as the heat took a terrible toll on milk yields. Milk output totaled 19.08 billion pounds last month, down 0.5% from July 2022. The milk production map and the July weather maps look nearly identical. Simply put, milk output was down
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“We’re hearing a lot about the China market right now, as a reduction in demand from China for imported whole milk powder has been one of the key drivers of falling prices.
Strong domestic milk supply growth in China has been propelled by high raw milk prices over the past few
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Globally, milk production faces constraints in regions like the United States, Argentina, and Uruguay, with year-on-year (YoY) declines in May production. The US reported a -1.0% decline, Argentina a -10.8% drop, and Uruguay a -11.9% decrease YoY in May. However, Europe and
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‘Slow and Steady Price Increases’ in Global Dairy Report
After several quarters of stagnant milk prices, the dairy industry is expecting a positive margin outlook through the rest of the year, according to the recent global dairy report from Rabo AgriFinance. One of the report’s
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Plans to cull as many as 150,000 head of dairy cattle in New Zealand in an attempt to eradicate a bacterium will likely drain up to three per cent of milk supply from the global market
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Skim milk powder climbed 10.3% to $1.09/lb. This increase may be in part due to the European Union’s dwindling inventory of SMP stocks, now down 94% from its peak a few years ago. That high level of stocks was a burden on market. No more.
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Milk powder was New Zealand’s largest single commodity exported in the year to the end of April, accounting for 14% of overseas receipts.
Data released by Stats NZ shows the country exported $9.7 billion of milk powder over that period.
Since April 2008, the annual value of
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U.S. import quotas for dairy products are so low, and tariffs for imports above quota are so high, that, except for cheese, imports of dairy products account for less than one percent of domestic U.S. sales
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Global Dairy Trade Event 354 concluded with the GDT Price Index up 0.1%
Key Results*
AMF index up 1.7%, average price US$7,062/MT (€6,627/MT)
Butter index down 1.4%, average price US$6,546/MT (€6,143/MT)
Ched index down 8.5%, average price US$3,974/MT (€3,729/MT)
LAC index
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“I want to say this loud and clear right now that we risk a very low crop in the next harvest,” Holsether said to Fortune magazine at the recent United Nations COP26 climate conference. “I’m afraid we’re going to have a food crisis.”
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Limited milk supply growth and lackluster demand led to soft global dairy commodity pricing in 2023. However, the global dairy market appears to be transitioning to the next phase in its cycle, with prices expected to move higher through 2024, according to a new report from
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"Putting it bluntly, our economy is in good shape because of dairy, and in particular Fonterra, and New Zealand needs this to continue.”
In 1998 dairy was worth $4 billion to our economy, and it’s now over $20 billion. Dairy accounts for 1 in 3 of our export dollars, and
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"The dairy market will evolve like other commodity markets, with possible disruptive trends to which we will have to respond"
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"NFDM and SMP production plummeted and registered their smallest combined volume since September 2015. Furthermore, stocks decreased, dropping to their lowest figure in almost four years..."
-Highground
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China May Be Culling Dairy Cows for Beef to Offset Pork Losses - Bloomberg
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StoneX Dairy Group says the GDT 80% butterfat butter price equates to $2.1782 per pound U.S., up 7.8 cents, after gaining 13.1 cents on Feb. 7, and compares to CME butter which closed Friday at a pricey $2.43. GDT Cheddar, at $2.3068, was up 4.8 cents, and compares to Friday’s
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We’re in the Peak of the Butter Market
Ronald K. O'Brien II, President, North America for Nui Markets.
We're heading into a time when consumers will eat more butter than at any other time of the year. Most of it will be consumed as cookies, cakes, pies and other baked goods as
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It’s currently cost-prohibitive to expand dairy facilities and bred heifer numbers are at a ten-year low.
“We just don’t have the livestock to fuel a rapid expansion,” she explains. “The only way that we’re going to expand is to really slow down cull rates and keep the cows
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There are some analysts promoting the idea of significantly stronger milk prices later this year. They cite various reasons for these predictions. Some of this seems to be a matter of providing hope and telling people what they want to hear
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