Global Benchmarks
The Commodity Milk Value (CMV) approach to valuing the milk equivalent value of commodity prices can be used to compare market conditions across major exporting regions. Variations in prices paid across regions arise from differences in product mix, conversion costs, competition for milk supply and currencies.
In the case of the United States, it uses a regulated, domestically-focused milk pricing system that often results in farmgate price trends that are somewhat divorced from the rest of the global dairy market
Commodity Milk Value-US , EU and NZ(US$/KG)
This compares recent historical commodity milk values in major exporting dairy producers based on spot commodity prices for butter, SMP, WMP and cheese drawn from each wholesale market.
The calculation is based on an appropriate product mix in each case.
Forward Milk Values(US c/Kg)
This compares projected commodity milk values in the major exporting dairy producers as shown in the chart based on latest weekly futures prices for butter, SMP, WMP and cheese (as appropriate in each case). These are drawn from the CME (for US), NZX (New Zealand) and the EEX (EU).
The calculation is made on the same basis described above.
