Atten Babler Dairy FX Indices – Sep ’15
The Atten Babler Commodities Dairy Foreign Exchange (FX) Indices continued to increase to new record high levels during Aug ’15. The USD/Dairy Importer FX Index increased the most throughout the month, followed by the USD/Domestic Dairy Importer FX Index and the USD/Dairy Exporter FX Index.
Global Dairy Net Trade:
Major net dairy exporters are led by New Zealand, followed by the EU-28, the U.S., Australia and Argentina (represented in green in the chart below). Major net dairy importers are led by China, followed by Russia, Mexico, Japan and Indonesia (represented in red in the chart below).
USD/Dairy Exporter FX Index:
The USD/Dairy Exporter FX Index increased 0.8 points in Aug ’15 to a new record high value of 126.6. The USD/Dairy Exporter FX Index has increased 26.7 points since the beginning of 2014 and 7.5 points throughout the past six months. A strengthening USD/Dairy Exporter FX Index reduces the competitiveness of U.S. dairy products relative to other exporting regions (represented in green in the Global Dairy Net Trade chart), ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD/Dairy Importer FX Index:
The USD/Dairy Importer FX Index increased 8.5 points in Aug ’15 to a new record high value of 143.3. The USD/Dairy Importer FX Index has increased 37.0 points since the beginning of 2014 and 7.0 points throughout the past six months. A strengthening USD/Dairy Importer FX Index results in less purchasing power for major dairy importing countries (represented in red in the Global Dairy Net Trade chart), making U.S. dairy products more expensive to import. USD appreciation against the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
U.S. Dairy Export Destinations:
Major destinations for U.S. dairy exports are led by Mexico, followed by China, Canada, the Philippines and Indonesia.
USD/Domestic Dairy Importer FX Index:
The USD/Domestic Dairy Importer FX Index increased 3.4 points in Aug ’15 to a new record high value of 144.0. The USD/Domestic Dairy Importer FX Index has increased 22.4 points since the beginning of 2014 and 8.9 points throughout the past six months. A strengthening USD/Domestic Dairy Importer FX Index results in less purchasing power for the traditional buyers of U.S. dairy products (represented in red in the U.S. Dairy Export Destinations chart), ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Mexican peso, Iranian rial and Canadian dollar has accounted for the majority of the gains since the beginning of 2014.
USD/Dairy Exporter FX Index:
The USD/Dairy Exporter FX Index increased 0.8 points in Aug ’15 to a new record high value of 126.6. The USD/Dairy Exporter FX Index has increased 26.7 points since the beginning of 2014 and 7.5 points throughout the past six months. A strengthening USD/Dairy Exporter FX Index reduces the competitiveness of U.S. dairy products relative to other exporting regions (represented in green in the Global Dairy Net Trade chart), ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Argentine peso has accounted for the majority of the gains since the beginning of 2014.
USD/Dairy Importer FX Index:
The USD/Dairy Importer FX Index increased 8.5 points in Aug ’15 to a new record high value of 143.3. The USD/Dairy Importer FX Index has increased 37.0 points since the beginning of 2014 and 7.0 points throughout the past six months. A strengthening USD/Dairy Importer FX Index results in less purchasing power for major dairy importing countries (represented in red in the Global Dairy Net Trade chart), making U.S. dairy products more expensive to import. USD appreciation against the Russian ruble has accounted for the majority of the gains since the beginning of 2014.
U.S. Dairy Export Destinations:
Major destinations for U.S. dairy exports are led by Mexico, followed by China, Canada, the Philippines and Indonesia.
USD/Domestic Dairy Importer FX Index:
The USD/Domestic Dairy Importer FX Index increased 3.4 points in Aug ’15 to a new record high value of 144.0. The USD/Domestic Dairy Importer FX Index has increased 22.4 points since the beginning of 2014 and 8.9 points throughout the past six months. A strengthening USD/Domestic Dairy Importer FX Index results in less purchasing power for the traditional buyers of U.S. dairy products (represented in red in the U.S. Dairy Export Destinations chart), ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Mexican peso, Iranian rial and Canadian dollar has accounted for the majority of the gains since the beginning of 2014.