Atten Babler Dairy FX Indexes – Nov ’14
Overview:
Atten Babler Commodities has created three Dairy Foreign Exchange (FX) Indexes that are intended to indicate general trends in the competiveness of U.S. dairy exports. The Indexes value the U.S. dollar (USD) against the currencies of major global dairy exporting regions, major global dairy importing regions and traditional U.S. dairy export destinations. These Indexes will be identified in future updates by the following designations:
• USD/Dairy Exporter FX Index
• USD/Dairy Importer FX Index
• USD/Domestic Dairy Importer FX Index
The Indexes will be updated on a monthly basis going forward with commentary provided in blog postings at the end of each month.
Methodology:
The USD/Dairy Exporter FX Index, USD/Dairy Importer FX Index and USD/Domestic Dairy Importer FX Indexes are constructed using the currencies of 90% or more of the total global dairy exporters, global dairy importers and global importers of U.S. dairy products, respectively. Export and import percentages are calculated using the most recently available full year statistics offered by the USDA Foreign Agricultural Service (FAS). Currencies are weighted when valued against the USD to account for the relative importance of each region’s currency within the Indexes based on each regions percentage of total trade. FX values are provided by OANDA and are calculated on a percentage change basis, indexed to Jan ’00.
Current Index Values:
The USD/Dairy Exporter FX Index increased 0.7 points in Nov ’14 to a 12 year high value of 113.8. The USD/Dairy Exporter FX Index has increased 14.0 points since the end of Dec ’13 and 6.7 points throughout the past four months.
The USD/Dairy Importer FX Index increased 4.9 points in Nov ’14 to a new high of 118.9. The USD/Dairy Importer FX Index has increased 12.6 points since the end of Dec ’13 and 12.1 points throughout the past four months.
The USD/Domestic Dairy Importer FX Index increased 1.3 points in Nov ’14 to a new high of 127.3. The USD/Domestic Dairy Importer FX Index has increased 5.6 points since the end of Dec ’13 and 5.2 points throughout the past four months.
The USD/Dairy Importer FX Index increased 4.9 points in Nov ’14 to a new high of 118.9. The USD/Dairy Importer FX Index has increased 12.6 points since the end of Dec ’13 and 12.1 points throughout the past four months.
The USD/Domestic Dairy Importer FX Index increased 1.3 points in Nov ’14 to a new high of 127.3. The USD/Domestic Dairy Importer FX Index has increased 5.6 points since the end of Dec ’13 and 5.2 points throughout the past four months.