date:Feb 22, 2019
ture conditions in NZ have been excellent, pushing milk output to record levels. The remainder of the season looks favourable, with the risk of El Nino receding, but weather will still play its part. Chinese milk powder demand has surged significantly to help soak up NZs additional WMP output.
Cheese
EU prices are improving with slower growth in supply and better SMP/butter stream returns. Weaker US sentiment with concerns as to strength of export demand, while domestic demand disappoints. Flat