Argentinian beef exports hit close to 21,000t for September, which was a 33% increase on the previous month and by far the strongest level of beef exports this year. This brings Argentinian beef exports for the first nine months of 2017 above 147,000t, which is 26% above last year.

Forecasts for Australian wheat production have been revised lower to less than 21m tonnes as drought hits crop yields. If realised, this would be the lowest wheat crop in a decade. The decline in production means just 17m tonnes of wheat will be available for export.

Chinese dairy imports for the first nine months of 2017 are 12% higher than last year at 1.95m tonnes. There is strong demand from Chinese buyers for whole milk powder (WMP), with September imports increasing over 200% year on year.

UK milk production continues to rebound. September milk collections stood at 1.13bn litres, which was a 5% increase compared with last year. This brings cumulative milk collections in the UK to 10.8bn litres, which is slightly ahead of the same period last year.