AGRICULTURE AND RURAL DEVELOPMENT

Milk and dairy products newsletter

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Latest update

Dashboard: Milk and dairy products

Highlights

IT spot milk price down, now at 42.8 c/kg (21.04.2024);
EU butter prices: 574€/100 kg, +1.3% in the last 4 weeks;
EU SMP prices: 239€/100 kg, -0.7% in the last 4 weeks;
EU WMP prices: 364€/100 kg, +2.2% in the last 4 weeks;
EU cheddar prices: 392€/100kg, +0.9% in the last 4 weeks;
Feed costs increased by +2.5% and energy costs by +0.7% in week 16 compared to the previous 4 weeks;
EU cow’s milk collection decreased by -0.6% in Jan-Feb 2024 and by -0.5% in Feb 2024 (Leap year adjusted);
In Feb 2024 (leap year adjusted), milk production increased by +5% in AU and by +1.9% in NZ, while decreased by -1.3% in the US and by -0.7% in the UK;
Evolution of EU dairy production in Jan-Feb 2024/2023: butter (-4.4%), and SMP (-4.5%); WMP (+7.6%), condensed (+9.6%), cream (+8%), drinking milk (+1.8%), fermented milk (+6.2%), cheese (+5.6%);
In Jan 2024, EU butter exports to top destinations were up: Saudia Arabia (+190%), USA (+8%) and the UK (+5%);
In Jan 2024, EU cheese exports were up: Japan (+3%), USA (+23%) and UK (+6%);
In Jan 2024, EU SMP exports went up to the Philippines (+138%) and Algeria (+35%), while EU WMP exports were up to Oman (+15%) and to the UK (+40%);
In Jan 2024, NZ exports were up for: butter (oil) (+4%), SMP (+15%), WMP (+20%) and down for cheese (-15%) compared to Jan 2023;
US dairy exports in Jan 2024 were down for butter(oil) (-32%) and SMP (-14%), and up for cheese (+13%) and WMP (+6%);
Chinese imports of cheese (+18%), WMP (+30%), caseines (+81%), condensed (+367%) and lactose (+13%) were up in Jan. 2024/23 while imports of butter(oil) (-21%), SMP (-15%), and wheypowder (-22%), were down.

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