European dairy markets have held steady this week, despite recent data showing big increases in French and German milk production for January.
The recent cold weather in Europe, brought on by Storm Emma, will have put the brakes on EU milk production in March and dairy markets have adjusted accordingly.
Additionally, there have been some sharp cuts in EU milk prices since the start of 2018 at the same time as feed wheat prices have risen to a three-year high on the continent. This may all serve to dampen the spring flush of milk in Europe this season and dairy market prices are reflecting this.
Spot butter prices in Europe are steady this week at €4,800/t. Futures markets for butter also look firm, with prices out to July and August trading about the €4,900/t mark.
Cheese markets are also steady with cheddar prices flat this week at €3,200/t. Mozzarella prices have firmed slightly this week to hit €2,800/t, while gouda prices were down slightly in the week to €2,650/t.
On the powders side, prices are generally steady, but remain depressed in historical terms. Skimmed milk powder (SMP) continues to act as a drag on markets, with prices at historic lows of €1,250/t. Futures markets for SMP also remain downbeat.
Just over 4,100t of SMP was sold out of intervention this week for prices above €1,050/t.
Despite a solid performance at last week’s GDT auction in New Zealand, prices for whole milk powder (WMP) weakened further in Europe this week to €2,550/t.
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European dairy markets have held steady this week, despite recent data showing big increases in French and German milk production for January.
The recent cold weather in Europe, brought on by Storm Emma, will have put the brakes on EU milk production in March and dairy markets have adjusted accordingly.
Additionally, there have been some sharp cuts in EU milk prices since the start of 2018 at the same time as feed wheat prices have risen to a three-year high on the continent. This may all serve to dampen the spring flush of milk in Europe this season and dairy market prices are reflecting this.
Spot butter prices in Europe are steady this week at €4,800/t. Futures markets for butter also look firm, with prices out to July and August trading about the €4,900/t mark.
Cheese markets are also steady with cheddar prices flat this week at €3,200/t. Mozzarella prices have firmed slightly this week to hit €2,800/t, while gouda prices were down slightly in the week to €2,650/t.
On the powders side, prices are generally steady, but remain depressed in historical terms. Skimmed milk powder (SMP) continues to act as a drag on markets, with prices at historic lows of €1,250/t. Futures markets for SMP also remain downbeat.
Just over 4,100t of SMP was sold out of intervention this week for prices above €1,050/t.
Despite a solid performance at last week’s GDT auction in New Zealand, prices for whole milk powder (WMP) weakened further in Europe this week to €2,550/t.
Read more
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