Thank you to “Cheese Market News” for a great newsletter. It has great insights into the US dairy and world dairy events.
Highlights for me include:-
Updates on government support purchases.
$10 million support for a new cheese factory.
A joint venture developing between Global Dairy Trade (GDT) NZ and an European Exchange.
Concerns about Free trade agreements in Japan.
Milk price mechanisms and component pricing is also interesting.
A great newsletter.
For those that get confused by conversion factors. This list may help.
1 CWT milk = 100 lb (pounds) = 45.359 kg = about 44 litres of milk (sg 1.032)
1 cwt = 44 litres
1 pound (lb) = 454 grams.
1 tonne (1000 kg)= 2,204 lb
$1 Australian (AUD) = $0.70 US (USD)
So cheese @ usd $1.40 / lb = Aud $2 per pound (very convenient at today’s exchange rate)
2 x 2,204 = AUD $ 4,408 per tonne ( which is a very low price)