in our Weekly Wrap-Up we share with you what we have seen happening and trading in the market.
Prices are a bit choppy, but still with a bearish tendency. Cheese valorization is best performing, but we don't see pressure building there. The market bumped up a bit due to some short covering early in the week, but a general weak demand and macro-economic forecast quickly took us back to reality. SMP stocks are still well available, fresh supply depends highly on the region. Butter remains rather stable with most players looking at Q1. SWP remained stable for both feed and food qualities. We expect the market to be more active next week with EU holidays ending.
Butter - quite a thin market with low liquidity. Q4 demand seems to be covered, Q1 sees more buyers. Cream trading well above the butter equivalent. Sweet cream butter hard to find due to limited Polish demand.
We are seeing the following levels at the moment for DE/BE/NL:
Q4: EUR 4300 - 4350
Q1: EUR 4400 - 4450
SMP - A bumpy ride this week. Feed SMP touched EUR 2000/mt DAP at which buyers were standing up again. The EUR weakened against the USD, but export demand is still at levels below producer's quotes today. US NFDM also took a hit. Fresh product available around EUR 2100-2150/mt FCA.
BMP - Low liquidity. Prices between EUR 1750-1850/mt FCA EU.
SWP - High WPC's seem to be sought after, SWP has remained stable for feed and food quality. Food available around EUR 650-700/mt FCA, depending on origin. Feed quality for Q4 still trading around EUR 650/mt DAP.
As usual, if you would like to know more please don't hesitate to contact us!
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