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01 Domestic fresh milk prices
According to the statistics of the Ministry of Agriculture, as of April 18, the average purchase price inside and outside the contract in 10 major fresh milk producing areas such as Inner Mongolia/Hebei was 3.45 yuan/kg, down 0.6% month-on-month and 12.2% year-on-year.
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. China's economy: On April 23, the Ministry of Finance issued a document supporting the gradual increase in the central bank's open market operations, and on the evening of the same day, the central bank announced that it would carry out treasury bond trading in the secondary market as a liquidity management and monetary policy tool, and China's version of quantitative easing is imminent.
2. U.S. economy-related: U.S. economic growth in the first quarter fell to a nearly two-year low, and preliminary government data showed that GDP grew at an annualized rate of 1.6% in the first quarter. Personal spending, the engine of economic growth, rose by 2.5 percent, lower than expected. A closely watched core inflation measure rose to 3.7%, higher than expected and accelerating month-on-month for the first time in a year, while poor economic data sent stocks back to the bottom.
3. Palestinian-Israeli/Russian-Ukrainian Conflict: With the decline of Hamas's power, the Israeli-Iranian conflict has become the protagonist, and Iran's weak counterattack by Israel's attack on the embassy and its low-key response to Israel's response has kept the intensity under control.
4. Domestic raw milk: The situation of low raw milk prices in various places has not been solved, and speeding up slaughtering has become one of the few options.
5. New Zealand's major manufacturers/origins: Due to sluggish offline demand, major manufacturers had to operate on SGX again, which suppressed the price of futures milk powder.
6. International Industry/Origin Dynamics: Milk prices in the region have been supported by a weak season in Ireland, where milk production has been growing rapidly over the past two years, as milk sources continue to be tight in Europe.
7. This week's GDT Plus results: Both whole milk powder and skimmed milk powder fell slightly.
8. European and U.S. dairy futures performance: U.S. butter continues to perform well, and the short-term milk fat bull market is expected to continue.
9. Crude Oil: Oil prices retreated slightly as Iran announced that it would no longer respond to another Israeli attack, and the Middle East crisis took a break.
10. Palm oil: Palm oil has fallen sharply due to strong export appetite in exporting countries and recent poor domestic consumption.
11. Sugar: There is an oversupply at home and abroad, and prices continue to fall.
12. Domestic main feed grain prices: the national average price of corn was 2.56 yuan/kg, down 0.4% week-on-week and 12.9% year-on-year; the price in the main producing areas was 2.35 yuan/kg, flat month-on-month; the main sales area was 2.66 yuan/kg, down 0.7% from last week; the average price of soybean meal was 3.75 yuan/kg, up 0.8% week-on-week and down 16.5% year-on-year; on April 22, domestic wheat prices fell widely, down 0.5-2.0 cents/ catty, the price range is 1.29-1.36 yuan/jin, and the average price is 1.315 yuan/jin.
07 Dairy online market insights
Whole milk powder: the price of imported whole milk powder fell into a downturn again, international traders were active and rose sharply, and the forward quotation fell more;
Skimmed milk powder: Skimmed milk powder is stable, as foreign supply continues to increase, the overall consumption of domestic ice drinks is not smooth, and the follow-up price still has room to fall.
Butter: In terms of butter, the market price is stable, although the overall consumption is sluggish, but the shortage makes the spot price unusually strong, but with the easing of supply and some users gradually switch to domestic butter, future risks are gradually emerging.
Cheese: In terms of cream cheese, the mainstream brands are firm, and there are more Australian and domestic products, the price of Masu blocks is stable and slightly rising, and the domestic and foreign brands of Masu crushed cheese are all falling, and Cheda cheese has not fluctuated with the auction, and the price of industrial packaging is on the rise.
Lactose and low-protein whey: The domestic demand for lactose food grade and infant grade has improved, but the foreign market is firm, and the price is still inverted;
Concentrated protein varieties: WPC foreign disk began to loosen, but the domestic spot continued to be high; MPC domestic inventory digestion more, all kinds of production enterprises began to gradually enter the market to replenish; RC and casein sodium are still sluggish, and there is a downward trend.
Whipping cream: The supply of whipping cream in the market is loose, consumption is sluggish, and brands of various lines are frequently selling.
UHT milk: The price concession of room temperature milk market has set a record, driving the overall domestic substitution tide of baking and catering milk.
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