MD_DA127 DA MD DA127 Whole Milk Powder - Oceania MADISON, WI. September 29, 2011 (REPORT 39)
OCEANIA INFORMATION GATHERED 09/19/2011 - 09/30/2011
U.S. DOLLARS PER METRIC TON, FOB PORT WHOLE MILK POWDER (WMP):
Oceania whole milk powder markets are weak with prices slightly higher on the lower end of the reported range to generally lower. Drying schedules are seasonally active as the milk flow increases toward peak levels in both New Zealand and Australia.
Whole milk powder stocks are basically sufficient to meet known contractual commitments, although occasionally tight for near term or immediate needs. Traders and handlers are reporting that there are some "Bargain Hunters" in the spot market looking for a good buy, but are finding few opportunities.
At the September 2 g/DT event, the average price covering all contracting periods for whole milk powder increase by 1.1% to $3,345 per MT. Near term contracts (November) increased 1.7% to an average of $3,289 per MT; December - February contracts averaged $3,342, +0.2%; and March - May contracts averaged $3,508, +2.7%.
26% BUTTERFAT: 3,300 - 3,600
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