What do you think is the future of the Dairy Industry?
There was great expectation this time to see if there would be an improvement in demand from regions that typically buy most of the product on GDT, given some recent increases in SGT milk powder futures prices. This event didn’t disappoint and provides the most positive outcome in a while. The index gained 2.5%, to take the overall GDT index to the highest since December.
WMP was the standout, jumping 4.6% on average with stronger than average demand which was led by buyers from China and SE Asia. The Fonterra regular C2 price increased 4.4% to US$3,190/t.
SMP had a mixed result, increasing just 0.4% on average to US$2,787/t, with only a small lift in NZ medium heat prices to US$2,900/t, while Arla’s product jumped more than 7% on a simple average.
Fats were again mixed and went in different directions, increasing the discount for AMF on butterfat equivalent terms. Butter was again driven higher with larger SE Asia and Oceania purchases, while Chinese buying in both fats remained weak.
Cheddar prices lifted 3.4% on average to push above US$4,500/t which will bring some good news for Oceania producers with the weaker US market (as more product has been pushed back onto the CME) and softer quotes in the EU.
The world of dairy is rapidly changing and faces myriad challenges from mounting fuel costs to rising inflation. IFCN Dairy Research Network is at the forefront of understanding how dairy will change and how we can address these challenges. Leveraging a three-pillar system of partners, a network of global researchers, and skilled analytics IFCN offers data driven insights through a variety of tailored products and events.
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Novel events like Global Dairy Tech Mapping help us to understand how technology will continue to disrupt the dairy industry from cutting edge software to innovations in biologics. Small to large dairy tech firms have invested an estimated 7,9 billion USD in the year 2020 alone. From small scale disrupters to established firms, the new ecosystem of dairy tech will only become more important in understanding global dairy production and consumption. By offering this event, IFCN makes it easier to identify key players in this emerging network and establish new connections and relationships.
Are you in the Dairy tech space or interested in learning more? Please join a global movement of dairy tech through our LinkedIn group.
Moreover, IFCN has the pleasure of offering the 2nd Annual Dairy Outlook Workshop in Brussels from March 28-29th . This event will offer pivotal insight in energy markets, mid-term 2023 dairy markets assessments, and invaluable networking opportunities. Register today!