European dairy prices have continued to firm over the last week against a backdrop of strong buyer demand for dairy fats and tight supplies.
On European spot markets, butter prices are trading between €5,300/t and €5,500/t. Butter prices reported to the Dutch Dairy Board this week stood at €5,800/t.
On cheese markets, demand is very firm and prices are rising. Irish cheddar is trading at €3,100/t to €3,150/t ex-factory, which is quite healthy. Mozzarella and gouda prices have also risen this week.
On powder markets, prices are also showing some positive momentum, although still remain weak in historical terms. Demand for fresh skimmed milk powder (SMP) has pushed prices up to €1,450/t, which is the highest since last December. European spot prices for whole milk powder (WMP) are at their highest since last October. Irish-made WMP is selling at €2,550/t to €2,650/t ex-factory.
In contrast to the rising dairy market in Europe, dairy prices at this week’s GDT auction in New Zealand fell by a little over 1%. The benchmark dairy index was led lower by a 1.5% fall in the average selling price of WMP to $3,230/t (€2,695/t).
Following the recent trend in Europe, SMP prices rose again at this week’s GDT by a further 4% to hit $2,000/t (€1,670/t). New Zealand SMP continues to trade at a €250/t premium to European product.
With New Zealand’s milk production season winding to a close this month, Europe will increasingly set the price agenda in global dairy markets.
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Monday dairy markets: prices firm amid strong buyer demand
European dairy prices have continued to firm over the last week against a backdrop of strong buyer demand for dairy fats and tight supplies.
On European spot markets, butter prices are trading between €5,300/t and €5,500/t. Butter prices reported to the Dutch Dairy Board this week stood at €5,800/t.
On cheese markets, demand is very firm and prices are rising. Irish cheddar is trading at €3,100/t to €3,150/t ex-factory, which is quite healthy. Mozzarella and gouda prices have also risen this week.
On powder markets, prices are also showing some positive momentum, although still remain weak in historical terms. Demand for fresh skimmed milk powder (SMP) has pushed prices up to €1,450/t, which is the highest since last December. European spot prices for whole milk powder (WMP) are at their highest since last October. Irish-made WMP is selling at €2,550/t to €2,650/t ex-factory.
In contrast to the rising dairy market in Europe, dairy prices at this week’s GDT auction in New Zealand fell by a little over 1%. The benchmark dairy index was led lower by a 1.5% fall in the average selling price of WMP to $3,230/t (€2,695/t).
Following the recent trend in Europe, SMP prices rose again at this week’s GDT by a further 4% to hit $2,000/t (€1,670/t). New Zealand SMP continues to trade at a €250/t premium to European product.
With New Zealand’s milk production season winding to a close this month, Europe will increasingly set the price agenda in global dairy markets.
Read More
Monday dairy markets: prices firm amid strong buyer demand
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