MD_DA126

     Skim Milk Powder - Oceania

     Report 45 - Released on November 07, 2019

     Prices for skim milk powder in Oceania firmed. Current prices are solidly higher than one
     year ago. Sources in the region cite stronger demand in recent months, as well as the
     absence of intervention stocks, as contributing to current prices. Less milk will be
     available to make SMP through the balance of the year. This factor is also mentioned by some
     buyers, especially because strong export commitments will have to be filled.
     Prices for: Oceania, All First Sales, Free on Board - Port, Conventional, and Edible Skim
     Milk Powder
     Price Range - 1.25% Butterfat; $/MT:                   2,900 - 2,950


     Information for the period October 28 -  November 8, 2019, issued biweekly

     Secondary Sourced Information:

     At GDT event 247 on November 5, the SMP all contracts price, $2,924, increased 6.7 percent.
     The December contract, $2,951, increased 4.5 percent.

     SMP exports from New Zealand January - September 2019, 257,000 MT, were up 12.9 percent
     from January - September 2018, according to CLAL data made available to USDA.
     Published by:
     Dairy Market News - Madison, WI
     Eric K. 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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov