AGRICULTURE AND RURAL DEVELOPMENT

Milk and dairy products newsletter

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Latest update

Dashboard: Milk and dairy products

Highlights

EU butter prices: 458 €/100 kg, -2.4% in last 4 weeks;
EU SMP prices: 240 €/100 kg, -2.6% in last 4 weeks;
EU WMP prices: 356 €/100 kg, +0.3% in last 4 weeks;
EU cheddar prices: 358 €/100 kg, -0.1% in last 4 weeks;
IT spot milk price further down to 50.3 c/kg (16/07/2023);
Decrease of feed costs (-3.1%) and increase of energy costs (+0.9%) in week 28 compared to the previous 4 weeks;
EU milk deliveries up by +0.7% in May 2023 and +0.8 % in Jan-May 2023 compared to same periods last year;
Evolution of dairy productions in Jan-May 2023 compared to 2022: increase for concentrated milk (+5.6%), butter and cream (+1.7%), cheese (+1%), SMP (+0.9%) and drinking milk (+0.1%); decrease for WMP (-2.3%) and fermented milk (-0.1%);
In January-April 2023, EU butter exports decreased by 9% to China and by 24% to the U.K. while they increased by 76% to the USA;
During the same period, EU cheese exports went down to Japan (-18%) and to the USA (-10%) but went up to the U.K. (+6%) ;
In Jan-Apr 2023, EU SMP exports went up to China (+51%) and Algeria (+171%) and down to Indonesia (-54%). EU WMP exports went down to Oman (-27%), China (-26%) and unchanged to the U.K.;
In Jan-Apr 2023, the following NZ exports went up: butter(oil) +6%, cheese +8%, SMP +40% while WMP exports went down by -5%;
US dairy exports went down in Jan-Apr 2023 for butter(oil) (-40%), WMP (-38%) and SMP (-2%), unchanged for cheese;
Chinese imports of cheese (+7%), SMP (+20%), whey powder (+44%), caseins (+11%) and lactose (+28%) went up in Jan-Apr 2023 while imports of butter(oil) (-21%), WMP (-58%) and condensed (-38%) went down;
GDT last auction (18/07/2023): general price index -1%. Price increase for AMF (+3.4%); price decreases for butter (-2.7%), cheese (-10.1%), SMP (-0.6%) and WMP (-1.5%).