A restructured management approach that has put more onus on staff is paying dividends for farm managers Isaac and Michelle Johnstone.
In spot quotes from Australasian exporters, WMP has more than regained the losses of the past month, adding US$200 to US$2,850/t. SMP rose US$100/t to $US2,300/t. At US$3,980/t, butter has reached territory not seen since early April 2015, although this week’s increase was a relatively modest US$30/t. It wasn’t all good news, cheddar prices were shaved by US$50/t to $US3,450/t.
The Australian dollar ended the week at US$0.761, with a sharp drop on Thursday and a further slide on Friday, largely driven by a continued strength in the greenback and a disappointing Australian jobs report for September.
These factors combined to add 2.3 points to the index, which now stands at 180.3.
Note: - The index is an indicator of spot trends in gross export returns to the Australian dairy industry based on quoted Australasian dairy commodity export spot prices, movements in currency and the mix of total milk usage in product exports by the Australian industry.
This index was set at 100 on 1 January 2000.