Milk production up nearly 9 million liters in September while GDT index falls

Domestic milk intake by dairies and pasteurizers was estimated at 785.4 million liters for September 2022. This represents an increase of 1.1 percent (9 million liters) compared to September 2021.

Meanwhile, intake for the January-September 2022 period was estimated at 7,364.7 million liters, a decrease of 19.7 million liters (-0.3 percent) compared to the corresponding period for 2021.

Fat content increased from 4.43 percent in September 2021 to 4.52 percent in September 2022. Protein content also increased from 3.73 percent to 3.75 percent over the same period.

Skimmed milk powder increased by 20.7% from 11,100 t in September 2021 to 13,400 t in September 2022.

Butter production fell from 26,500 t in September 2021 to 23,700 t in September 2022.

Meanwhile, dairy prices fell even more than futures prices suggested ahead of Tuesday’s New Zealand Global Dairy Trade (GDT) event.

Nathaniel Keall, an economist at ASB Bank in New Zealand, points out that commodity prices have fallen 1.0 percent in New Zealand dollars over the last week as the currency appreciated against the US dollar.

The index fell 3.9 percent, the third straight decline. The most recent surge took place on September 20, where it rose 2 percent.

A total of 28,867 tons of product were sold. Cheddar was up 0.9 percent to $4,802 and butter was up 0.2 percent to $4,868.

The biggest drop was in the price of buttermilk powder, down 11.4 percent to $2,973. The next auction will take place on Tuesday November 15th.

Meanwhile, in the UK, negative sentiment returned to wholesale markets in October, with average prices for cream, butter and skimmed milk powder all falling over the month, according to the Agriculture and Horticulture Development Board (AHDB).

Improving milk supply in both the UK and Europe combined with slowing demand has put prices under pressure.

In October, cream prices started the period in the £2,900/t range but fell to lows in the £2,550-2,700/t range over the weeks.

Butter prices also fell, although the extent of the drop varied depending on the market traded. Milk production up nearly 9 million liters in September while GDT index falls

Fry Electronics Team

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