Followers of our global dairy industry blogs, news, data and analysis will have been scratching their head in the past few months. When will we see more pearls of wisdom, provocative notions, and humorous tidbits from the Xcheque team? The wait is over. Here we are again trotting out all sorts of dairyalia for your amusement and edification

As we say here in Australia – it’s been a long time between drinks. The Xcheque team has been off solving other people’s problems for a while. As they also say, good things come to those who wait and so here we are back again with more pithy comment and analysis of the global dairy industry.

This week Dr Hauser starts an investigation of the drivers of industry change. US milk production and export growth is in the spotlight. His analysis reveals that US dairy exports are quietly gathering momentum and are a major factor in US milk production and US commodity pricing in the past 5 years.

A review of fertiliser prices and exchange rates has prompted this discussion on the strong correlation between commodity prices and the Australian Dollar. Is the world destined to ongoing commodity price increases? Will Australian dollar continue to strengthen with higher commodity prices? The past decade of data suggests yes but we might have to wait 10 years to find out what is going to happen in the the next decade.

A US article on the milk : corn price ratio and it's implication for future dairy pricing has got under Dr Hauser's skin this week. It seems some folks in the US are not listening to the message and so here is a supplement to the article on US milk prices and margin after feed cost.

The all important topic of milk production is back on the agenda. Dr Hauser takes a detailed look at US milk production and its relationship to milk and feed prices. A long term perspective and focus on real money rather than ratios provides some clarity to supply trends and a test of futures markets.

Dr Hauser is on his high horse again tilting at myths and legends in the Australian dairy industry. In his blog this week he takes on the local mainstream press, refuting the suggestion that milk production in the north and west of Australia has declined in the past decade because of farmer and milk processor 'apathy'.

Last week Fonterra announced an extraordinary increase in their milk price payout. It was the only bright spot in an otherwise appalling week for New Zealand. Dr Hauser has delved into his spreadsheets and provided us a perspective on how the trick was done.