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Cheese demand pulling the market

1 min de lecture
  • Liquides

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The week is off to a good start and it promises to be a new bullish week for (at least a part of) the dairy commodity market. Cheese is clearly taking the lead, boosting the confidence of butter and SMP sellers. And with the PLMA and the Eucolait in front of us, most expect the bullish sentiment to be getting an extra boost. 

Speaking to our partners today we notice a change in sentiment. Where in the last weeks we saw most partners relaxed and waiting for direction, we now see more buyers nervously trying to get a hold of the last "cheap" offers in the market. Most of the activity in the morning focussed on cheese. Milk volumes are starting to decrease and spot milk seems to be getting more traction again. Sellers at the same time have pulled back further in their offices and headquarters, thinking that the longer they can postpone sales, the higher their sales price will be.

This is creating a big imbalance between buyers and sellers. And although we think sellers have the stronger hand, we don't think we will see a real short-squeeze as we think available volumes v.s. uncovered demand isn't as big as it was 2 years ago.

Looking at the liquid market, we see more buyers for SMC (please call us if you can offer) and we hear the demand for raw milk in Eastern Europe is up! Looking at the cream market we see sellers around € 5500,- for this week, and buyers for further out at levels between € 5500- € 6000

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