April 4, 2024
Welcome to Freshagenda’s Global Dairy Weekly – a newsletter with insights derived from our Global Dairy Directions platform. Our newsletter covers major events in domestic and global dairy markets. Feel free to forward it to your colleagues.
First Take:
A couple of stories in this week’s newsletter highlight the resilience of dairy retail demand, even though shoppers are looking for value buys. Both US and Australian consumers continue to support the category, with grocery stores also benefitting from more at-home consumption, as households tighten their belts.
However the outlook for global dairy markets has dimmed, with our latest Global Dairy Directions analysis pointing to still lacklustre demand from importers and more EU milk in prospect. So given that context, this week’s positive GDT event seems surprising at first, but it’s more to do with the supply and demand dynamics of the platform itself. As New Zealand empties its warehouses, hand-to-mouth buyers are competing for seasonally reduced GDT offerings, particularly for butterfats. We take a deep dive on these issues in this week’s video, available here.
This week’s highlights include:
- GDT index lifts
- Global fundamentals weaken
- Avian flu spreads in the US
- French organic milk falls
- Australian milk output lifts in February
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