Atten Babler Dairy FX Indexes – Apr ’15
U.S. dollar (USD) strength continued within the Atten Babler Commodities Dairy Foreign Exchange (FX) Indexes during Mar ’15. The USD/Dairy Exporter FX Index reached a 12 and a half year high while the USD/Domestic Dairy Importer FX Index reached a new record high value. The USD/Dairy Importer FX Index declined slightly from the record high experienced in Feb ’15, but remained at the second highest figure on record.
USD/Dairy Exporter FX Index:
The USD/Dairy Exporter FX Index increased 1.6 points in Mar ’15 to a value of 120.7, a 12 and a half year high. The USD/Dairy Exporter FX Index has increased 20.9 points since the beginning of 2014 and 9.5 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, 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 declined 1.1 points in Mar ’15 from the record high experienced in Feb ’15 to a value of 135.1. The USD/Dairy Importer FX Index remains at the second highest figure on record and has increased 28.8 points since the beginning of 2014 and 24.5 points throughout the past six months. A strengthening USD/Dairy Importer FX Index results in less purchasing power for major dairy importing countries, 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, however the ruble strengthened against the USD throughout Mar ’15, resulting in the MOM decline.
USD/Domestic Dairy Importer FX Index:
The USD/Domestic Dairy Importer FX Index increased 1.8 points in Mar ’15 to a new high value of 136.9. The USD/Domestic Dairy Importer FX Index has increased 15.2 points since the beginning of 2014 and 12.6 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, ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Mexican peso, Ukrainian hryvnia and Iranian rial has accounted for the majority of the gains since the beginning of 2014.
USD/Dairy Importer FX Index:
The USD/Dairy Importer FX Index declined 1.1 points in Mar ’15 from the record high experienced in Feb ’15 to a value of 135.1. The USD/Dairy Importer FX Index remains at the second highest figure on record and has increased 28.8 points since the beginning of 2014 and 24.5 points throughout the past six months. A strengthening USD/Dairy Importer FX Index results in less purchasing power for major dairy importing countries, 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, however the ruble strengthened against the USD throughout Mar ’15, resulting in the MOM decline.
USD/Domestic Dairy Importer FX Index:
The USD/Domestic Dairy Importer FX Index increased 1.8 points in Mar ’15 to a new high value of 136.9. The USD/Domestic Dairy Importer FX Index has increased 15.2 points since the beginning of 2014 and 12.6 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, ultimately resulting in less foreign demand for U.S. products, all other factors being equal. USD appreciation against the Mexican peso, Ukrainian hryvnia and Iranian rial has accounted for the majority of the gains since the beginning of 2014.