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Dairy Prices Down

2 min de lecture
  • Beurre
  • Fromage
  • Poudres

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A quick update today as we had little time to write our update today. The dairy market continues to trade lower and we see lower prices for butter, cheese and smp. Prices are under pressure due to more milk supply and a very calm buyers market. We see traders frontrunning the market, although more supply is coming from the producer's side as well. 

We traded butter as low as € 5060 ex Ireland for Q2+July and € 5100 for Q2 NL/DE/BE butter. We see more sellers on roughly the same prices. We hear EEX futures for butter are dropping fast as well where Q3 futures traded as low as € 5450 (almost € 600 down v.s. 3 weeks ago). Feb/March futures traded € 5250. Buyers are harder and harder to find. We start the day with:

  • a buyer for 6 loads NL/DE/BE fresh/frozen Q2 € 5050
  • a buyer for 1 load NL/DE?BE fresh/frozen for March at € 5050
  • a buyer for 4 loads of frozen German butter for April-July at € 5000 FCA NL

The cheese market is trading lower as well. We traded Gouda at € 3900 DAP  NL for Feb/March and saw more offers at the same price. Buyers seem to step out of the market and sellers are stepping in. Even for prompt collection we now see more offers, but we see no more buyers. Q2 offers are showing up even below the prices of February and March, suggesting suppliers are expecting lower prices to continue and last. We still have buyers for

  • 2 loads of Gouda for February at € 3800
  • 2 loads of GOuda for March at € 3700
  • 5 loads of Cheddard curd at € 3800 DAP Belgium

The market for powders also feels a lot weaker. We see SMP Codex for Swizterland at € 2360 although some partners even indicated to have seen offers below € 2300 directly from producers. We brokered 240mt of non standardised SMP at € 2390 and still have an offer at € 2350 FCA North Ireland. The firm belief among our partners that SMP could bounce back up quickly again starts to fade a bit. We start the day with

  • a bid for 100-200mt non standardized SMP at 2300 DAP NL
  • a bid for 300mt Solarec SMP medium heat fresh for Q2 at € 2400

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    • Beurre
    • Fromage
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