Saturday, July 17, 2010
May Exports of Milk Powders
(click on image to enlarge)
The U.S. International Trade Commission (USITC) updated its trade database this week to include figures from May 2010.
Looking at the data is interesting because, everyone was told milk prices crashed because the export market for dairy dried up. Of particular concern was the crash of the milk powder market - nonfat dry milk (NFDM) and skim milk powder (SMP).
Total exports of dairy products are very high this year. The May 2010 dairy powder exports are 87% of May 2008. But, the "all milk" price is just 82% of May 2008.
The financial world is still very shaky. Credit is still a worry. So, my guess those with the power to put a little aside for a rainy day, are doing just that. Supply and demand alone, leave quite a few questions unanswered.