Butter took another downward turn this week, with the spot market price dropping by €115/t to reach €3,835/t which is the lowest price since 2021.
The little lift in the butter trade that came after Christmas seems to have been short-lived.
Meanwhile, cheese and whole milk powder (WMP) prices are more steady, with just small gains recorded for both this week. It was better news on the skim milk powder (SMP) front, with prices going up by €70/t to reach €2,145/t.
It’s still not a very high price, but it does show that skim is in demand.
I’m told that exports of SMP from Europe continue to be well ahead of this time last year and it looks like there are plenty of buyers when the price is right.
Speaking to representatives of Ornua at the Gulfood trade fair in Dubai this week, they said that proteins continue to be in demand.
While the mood was positive enough at Gulfood, not many deals were being done on stands, with buyers a little bit hesitant about what direction the market is going in.
On the brighter side, they said that the second quarter of the year was looking much better.
High global supplies of dairy continues to weigh on the market, with the latest data from New Zealand (NZ) showing that it is continuing to pump out milk.
Collections were up 2.45% for December compared with the previous December. There are some concerns about milk supply as it moves into later summer, with dry conditions as a result of El Nino set to disrupt grass growth in New Zealand.
Butter took another downward turn this week, with the spot market price dropping by €115/t to reach €3,835/t which is the lowest price since 2021.
The little lift in the butter trade that came after Christmas seems to have been short-lived.
Meanwhile, cheese and whole milk powder (WMP) prices are more steady, with just small gains recorded for both this week. It was better news on the skim milk powder (SMP) front, with prices going up by €70/t to reach €2,145/t.
It’s still not a very high price, but it does show that skim is in demand.
I’m told that exports of SMP from Europe continue to be well ahead of this time last year and it looks like there are plenty of buyers when the price is right.
Speaking to representatives of Ornua at the Gulfood trade fair in Dubai this week, they said that proteins continue to be in demand.
While the mood was positive enough at Gulfood, not many deals were being done on stands, with buyers a little bit hesitant about what direction the market is going in.
On the brighter side, they said that the second quarter of the year was looking much better.
High global supplies of dairy continues to weigh on the market, with the latest data from New Zealand (NZ) showing that it is continuing to pump out milk.
Collections were up 2.45% for December compared with the previous December. There are some concerns about milk supply as it moves into later summer, with dry conditions as a result of El Nino set to disrupt grass growth in New Zealand.
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