See the latest update at:

https://ec.europa.eu/agriculture/sites/agriculture/files/market-observatory/milk/pdf/dashboard-dairy_en.pdf

• EU spot milk prices decreased last week: in IT by 1.2% (40.3 c/kg) and in NL by 2.7% (36.5 c/kg)

• EU average farm gate milk price increased by 1.9% in July 2018 to 32.8 c/kg

• This price is 4% lower than one year earlier, but 1% above the average of last 5 years

• Milk price have been stable in New Zealand in July (31.3 c/kg; 7.9% lower than in July 2017)

• July farm gate milk price decreased by 4.7% in the US (30.7 c/kg) compared to June 2018; 10.5% lower than in July 2017

• Feed costs 1.9% lower and energy costs 3.1% higher in week 36 compared to the previous 4 weeks' average

• EU butter exports 14% lower in Jan-Jul 2018: in Saudi Arabia, the second destination for EU butter 13% decrease, while significant increases in Singapore, Japan and Morocco

• Double-digit increase in EU SMP exports in Algeria (+16%), Egypt (+66%), Bangladesh (+97%) and Singapore (+63%), but EU SMP exports in Jan-Jul 2018 are 1% below last year

• New Zealand increased their butter/butteroil exports by July (+11%)

• Russia imports of dairy products decreased in Jan-Jun 2018, except of cheese (+13%) and lactose (+16%)