Dutch spot prices probably took a small step down in the last week from 44c to 43.5c/l, but these prices remain the highest for the last three years. The only other negative rumours I heard this week were some slightly easier prices for high-quality, high-content protein whey powders out of Germany.
Dutch spot prices probably took a small step down in the last week from 44c to 43.5c/l, but these prices remain the highest for the last three years.
The only other negative rumours I heard this week were some slightly easier prices for high-quality, high-content protein whey powders out of Germany.
Of the main commodities, EU whey powders continue to slide down since June to reach about €8,000/t from €10,000 two months ago.
Cheddar prices are flat, while whole milk powder prices are trending slightly upwards to finish at €3,100/t this week.
Skim powder prices are touching the lowest they have been for the last year or indeed the last three years, with the latest EU price recorded at €1,700/t.
In contrast, butter prices continue to scream through the roof, with prices of €6,400/t, a whopping 84% ahead of the same period last year and over twice the price achieved compared with the average of the last three years.
Interestingly, it’s Australia that has increased imports of butter significantly this year (+29%) and about 11% of that is of EU origin.
Russia is also up significantly in butter imports, but 0% of this butter is of EU origin.
China is the other big player in the butter import game and it is up 7% year on year, with 12% of this EU origin.
So who is filling the extra demand?
New Zealand and the EU 28 are the big players and both are back 8% and 18% respectively this year.
Belarus is the only significant butter-producing country up on exports – up 7% on the same period last year.
Read more
Kerry increases August milk price
What the Glanbia top-up means for farmers
This is a subscriber-only article
SHARING OPTIONS: