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Dairy Digest 22nd of February

2 min de lecture

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    Yesterday, the market experienced a subdued day as most participants concluded their discussions in Dubai and began their journeys back home. Those seeking answers appear to be leaving with more questions, while those who attended to network and connect with both familiar and new partners found the exhibition to be highly productive. Reports suggest that compared to previous years, this year's Gulfood was more of a networking event than a business-centric one.

    Examining the domestic market, we observe minimal changes. As anticipated, cream prices have trended higher, with a wide trading range. Sellers claim prices around €6900, while buyers are securing deals at €6600 and below. Raw milk prices remain consistent with the previous week, hovering just above 40 cents in the Netherlands but falling below 40 cents in Germany and France. SMC prices are under additional pressure, with reports of €1900 in Germany and Holland and even lower prices in France. Recent graphs for France and Germany indicate a rapid increase in milk intake, signaling a significant upward trend compared to previous years.

    Given the mounting pressure of the milk flush, producers are anticipated to face challenges. Many have refrained from sales in Q2 and Q3, while buyers have actively sought offers. Holding off sales has proven successful, with prices rising rapidly. Returning home, producers must decide whether to wait or capitalize on the current forward price levels, which may offer a decent milk return. Delaying decisions could result in increased competition for buyers, requiring producers to actively seek them out again.

    While our advice of "Meden Agan" was initially directed at traders, we believe that current price levels provide a compelling reason to sell at least a portion of the forecasted volumes. Anticipating a surge in offers next week as producers aim to sell before facing pressure, we expect the market to trade steadily in the coming weeks. Buyers no longer need to chase offers, and sellers are not yet compelled to chase bids. Safe travels to those returning, enjoyable extended stays to others, and for those still in Europe, feel free to reach out to discuss business.

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