SKIM MILK POWDER (SMP): Prices moved lower on both ends of the range
with a more significant decline on the upper end of the range.
Manufacturing milk volumes are very heavy and production is at capacity
levels at most plants. Supplies are building with some manufacturers
becoming anxious to get sales on the books as supplies are expanding.
Buyers, knowing that global supplies are increasing, are more often than
not, in no hurry to purchase and willing to wait for possible lower
prices in the future. Japanese authorities have announced plans to
import 10,000 MT of SMP to expand supplies for the yearend holidays. A
majority of the Japanese imports are expected to come from Oceania.
According to GTIS, China's imports of skim milk powder decreased again in
September, following declines in August. New Zealand saw its share of
exports to China decline with increased shares going to the U.S. and
Europe. The January to September totals show China's SMP imports 35%
over year ago levels. At the November 4 GDT event 127, SMP for all
regions and contracting periods averaged $2,457 per MT, -1.2%. For
trading in contract period 2, January 2015, prices averaged $2,370 for NZ
sourced medium heat product, down $65 from the prior event.
SKIM MILK POWDER (SMP): Prices moved lower on both ends of the range with a more significant decline on the upper end of the range. Manufacturing milk volumes are very heavy and production is at capacity levels at most plants. Supplies are building with some manufacturers becoming anxious to get sales on the books as supplies are expanding. Buyers, knowing that global supplies are increasing, are more often than not, in no hurry to purchase and willing to wait for possible lower prices in the future. Japanese authorities have announced plans to import 10,000 MT of SMP to expand supplies for the yearend holidays. A majority of the Japanese imports are expected to come from Oceania. According to GTIS, China's imports of skim milk powder decreased again in September, following declines in August. New Zealand saw its share of exports to China decline with increased shares going to the U.S. and Europe. The January to September totals show China's SMP imports 35% over year ago levels. At the November 4 GDT event 127, SMP for all regions and contracting periods averaged $2,457 per MT, -1.2%. For trading in contract period 2, January 2015, prices averaged $2,370 for NZ sourced medium heat product, down $65 from the prior event.
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SKIM MILK POWDER (SMP): Prices moved lower on both ends of the range
with a more significant decline on the upper end of the range.
Manufacturing milk volumes are very heavy and production is at capacity
levels at most plants. Supplies are building with some manufacturers
becoming anxious to get sales on the books as supplies are expanding.
Buyers, knowing that global supplies are increasing, are more often than
not, in no hurry to purchase and willing to wait for possible lower
prices in the future. Japanese authorities have announced plans to
import 10,000 MT of SMP to expand supplies for the yearend holidays. A
majority of the Japanese imports are expected to come from Oceania.
According to GTIS, China's imports of skim milk powder decreased again in
September, following declines in August. New Zealand saw its share of
exports to China decline with increased shares going to the U.S. and
Europe. The January to September totals show China's SMP imports 35%
over year ago levels. At the November 4 GDT event 127, SMP for all
regions and contracting periods averaged $2,457 per MT, -1.2%. For
trading in contract period 2, January 2015, prices averaged $2,370 for NZ
sourced medium heat product, down $65 from the prior event.
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