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01 Domestic fresh milk prices
According to statistics from the Ministry of Agriculture, as of March 21, the average purchase price inside and outside the contract in 10 major fresh milk producing areas such as Inner Mongolia / Hebei was 3.53 yuan/kg, down 0.6% month-on-month and 11.1% year-on-year ;(because the price of milk outside the contract fell too ugly, and the official has not updated it for a long time)
02 Bulk dairy spot offer
The prices of the main bulk dairy products offered in the spot offer are as follows: (yuan/ton)
The above prices are quoted for special treatment in the actual price offer 03
04 Foreign futures offers in the same period
05 exchange rate
The trend of the RMB against the USD/EUR exchange rate.
06Important information on the domestic market
1. U.S. economy-related: The U.S. Labor Department reported on Thursday that the producer price index (PPI) rose 2.1% in March from a year earlier, up 0.2% month-on-month, lower than expected. The performance of some sub-categories in the PPI report may provide investors and Fed officials with a slight sigh of relief. Indicators such as healthcare and portfolio management weakened in March, and it is worth noting that these categories are included in the calculation of the personal consumption expenditures (PCE) price index.
2. Domestic raw milk: The lowest price of local non-contract milk in Ningxia exceeded 0.8 yuan/kg, and the lowest price of local non-contract milk in Xinjiang fell to 0.6 yuan/kg.
3. New Zealand's Major Manufacturers/Origins: In view of the strong demand for fats and oils, major manufacturers are producing large quantities of casein products near the end of the season, with the intention of increasing the supply of milk fat.
4. International industry/origin dynamics: The peak of milk production is expected to be delayed by one month due to cold temperatures in Western Europe this season.
5. This week's GDTPulse results: Whole milk powder and skimmed milk powder prices follow GDT's rise.
6. European and American dairy futures performance: European and American futures continued to rise, and European milk fat prices continued to climb.
7. Crude Oil: The strong dollar weighed on oil prices and retreated slightly.
8. Palm oil: Palm oil has entered the peak production season, domestic inventories have increased, and prices have fallen.
9. Sugar: Sugar prices fell as production fell less than expected in Brazil and India.
10. Domestic main feed grain prices: the national average price of corn was 2.59 yuan/kg, flat week-on-week, down 13.1% year-on-year; the price in the main producing areas was 2.35 yuan/kg, flat month-on-month; the main sales area was 2.70 yuan/kg, down 0.4% from last week; the average price of soybean meal was 3.82 yuan/kg, up 0.3% week-on-week and down 15.1% year-on-year; the domestic wheat purchase price continued to fall, and the current mainstream purchase price was concentrated at 1.34-1.39 yuan/jin, with an average price of 1.364 yuan/ catty, 1.6 cents / catty lower than before the holiday. At present, the fundamentals of the domestic wheat market are not significantly good, the market mentality is more sensitive, and it is expected that wheat prices will still be under pressure in the short term.
07 Dairy online market insights
Whole milk powder: imported whole milk powder continues to maintain a high position since the year in the range of 275-28000, this year's import volume is relatively concentrated, and the large quotation has a strong desire to control the market; domestic powder is still falling, the third-tier brand is advancing towards the price of 15,000 and below, and the first- and second-tier brand brands fall below 20,000 is also a high probability event.
Skimmed milk powder: The price of skim milk powder is difficult to rise, and it still fluctuates around the 22,000 range.
Butter: In terms of butter, the market is still out of stock, the price has remained at a high level since last year, and the price of industrial brands is rapidly approaching the main price of catering.
Cheese: cream cheese is the main market in New Zealand is more attractive, the price of massu blocks is stable, the decline of masu is still ongoing, and the main brands of New Zealand have also begun to dump the market, and the retail price of Cheda cheese is firm, and the inventory sell-off of major market manufacturers is nearing the end.
Lactose and low-protein whey: Lactose continues to be upside down, and low-protein consumption is improving.
Various varieties of concentrated protein: WPC offer is tough, and domestic shipments are slow; MPC market has gradually slowed down due to New Zealand's main force still dumping at low prices; RC at the end of the production season due to New Zealand's willingness to continue to ship, coupled with the collapse of domestic traders caused by the Argentine brand selling, the price has fallen; the foreign market of butter sodium is stable, and there are signs of diving in China.
Whipping cream: The supply of New Zealand's main brands in the whipping cream market continues to control the market, and domestic brands/European brands are competing to sell.
UHT milk: The price of room temperature milk continues to rage, and domestic second-tier brands have begun to enter the price of less than 50 yuan per box, and the vicious competition in the market is like a tide.
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