date:Feb 22, 2019
trade with weaker import demand in US, Australia, Korea and China.
Skim Milk Powder
Intervention stock is practically cleared. EU prices are trending higher as the stocks reduce, fresh market tightening with slower Winter output. Were seeing improved premiums for NZ SMP over EU and US product. Growth in export trade remained strong in Q4 which is driven by US and EU.
Butter
Slower EU milk supply is weakening cream and butter output. NZ prices are fragile but following EUs lead, with slower st