MD_DA126

     Skim Milk Powder - Oceania

     Report 21 - Released on May 23, 2019

     Oceania skim milk powder prices are weaker at the low end of the price range, higher at the
     top. The price range fluctuation is considered a trading fluctuation. Very little SMP is
     being produced at this time of year. Nevertheless, some buyers seeking a specific source of
     Oceania SMP, had to pay a bit more. Less particular buyers had some price relief.
     Prices for: Oceania, All First Sales, Free on Board - Port, Conventional, and Edible Skim
     Milk Powder
     Price Range - 1.25% Butterfat; $/MT:                   2,525 - 2,600


     Information for the period May 13 - 24, 2019, issued biweekly

     Secondary Sourced Information:

     At GDT event 236 on May 21, the SMP all contracts price, $2,529, increased 0.5 percent. The
     June contract, $2,551, decreased 0.7 percent. The all contracts price increase reflects
     contracts later in the year more than offsetting near term prices.

     SMP exports from Australia January-March 2019, 45,000 MT, increased 9.7 percent from
     January-March 2018, according to CLAL data provided to USDA. SMP is the powder of production
     emphasis in Australia. Last year, SMP comprised nearly 70 percent of milk powders produced,
     according to Dairy Australia. China is the single biggest Australian SMP export customer
     during the period.

     The table below shows the top export destinations and country percent change comparing
     January-March 2019 with January-March 2018, using CLAL data.

           Australia SMP Exports
     January-March 2019/January-March 2018

                               % Change
     Destination        MT     2019/2018

     China              11,633  +56.6
     Indonesia           8,871   -8.5
     Vietnam             7,175 +347.0
     Singapore           2,597  -10.7
     Published by:
     Dairy Market News - Madison, WI
     Eric Graf, 608.422.8590
     Email: Eric.Graf@usda.gov

     Additional Dairy Market News Information:
     Dairy Market News (DMN) by Phone: (608)422-8602
     DMN Website: http://www.ams.usda.gov/market-news/dairy
     DMN Database Portal: http://www.marketnews.usda.gov/mnp/da-home