SKIMMED MILK POWDER - Q2 2023 REPORT
USA
• NFDM prices moved lower in the price range.
• Low/medium heat NDM demand is steady to moderate.
• Export demand is on the lighter side.
• Mexican purchasers have pulled back activity as bearish price movement persists.
• High heat inventories are tighter comparatively, loads are available to accommodate current moderate demand. Indications of High Heat have slid down.
OCEANIA
• The Oceania skim milk powder (SMP) price range moved lower at both ends, following a 6.0 percent drop in the price index, on lighter demand, at the last GDT event.
• North Asia buyers were most active with purchases, while leading in volumes acquired.
• SMP production is subjected to current product mix strategy that provides the highest return.
• SMP manufacturers seem accepting to just move forward for the near term as SMP supplies are adequate.
• The market undertone is unsettled.
EUROPE
• The price rise for European skim milk powder (SMP) has seemed to stall out.
• Prices have turned downwards once again. Demand remains dull, as many end users are starting their summer holidays.
• Most of the short-term SMP needs have been met, and only some remaining sales are getting done to fill the gaps.
• For longer term deals, buyers and sellers disagree on the milk and SMP supplies that may be available later in the year, and therefore, also disagree on the price.
• Inventories are sufficient to fill current needs and SMP production is steady