MD_DA127

     Whole Milk Powder - Oceania

     Report 29 - Released on July 18, 2019

     Whole milk powder prices are higher, much to the relief of dairy manufacturers. The recent
     early summer string of mixed to weaker prices was dragging down profitability. Recent
     stepped up buying interest and efforts to finalize contracts through Q3 and Q4 have given
     the price boost many had hoped for. Most buyers are now motivated to complete 2019
     contracting because few people expect prices to weaken or weaken much. There seems to be a
     good base under current price levels according to many observers.

     WMP production has a priority for early season milk availability. Plants are operating at
     schedules to handle the milk available. Even so, this early in the season, output is
     relatively low.
     Prices for: Oceania, All First Sales, Free on Board - Port, Conventional, and Edible Whole
     Milk Powder
     Price Range - 26% Butterfat; $/MT:                     3,025 - 3,175


     Information for the period July 8 - 19, 2019, issued biweekly

     Secondary Sourced Information:

     At GDT event 240 on July 16, the all contracts price, $3,074, increased 3.6 percent. The
     August contract price, $3,170, increased 0.8 percent. All contract periods through December
     reflect price increases.

     WMP exports from Australia January - May 2019, 19,000 MT, decreased 35.9 percent from
     January - May 2018, according to CLAL data provided to USDA.
     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: https://www.ams.usda.gov/market-news/dairy
     DMN MARS (My Market News): https://mymarketnews.ams.usda.gov