In our Weekly Wrap-Up we share with you what we have seen happening and trading in the market.
This week the direction was down with almost no exception for any commodity. Until now it was a no-brainer for producers to allocate most of their milk to cheese however this now changed since cheese demand is struggling and stocks are increasing.
This in combination with steady milk supply and more milk to be expected in the coming weeks resulted in lower prices for liquids such as SMC (2100 - 2200) and cream (below EUR 6000).
During the week more buyers disappeared and prefer to wait as they are not in urgent need for products.
Butter - weaker, we started the week at levels around 5300 for Feb/March and ended the week at 5100. On Q2 we have seen similar drops of EUR 200 - 250/mt within a week with DE/BE/NL now trading at 5150 - 5200/mt
SMP - Further weakness in Europe. NZ is still competing for business on the export markets, and with the freight rates from Europe increasing, it's hard to remain competitive. Check our competitive index for up to date CFR prices.
In Europe we see more offers from producers but buyers are stepping out while we are approaching EUR 2300 support levels. Traders are trying to get rid of some older products.
BMP - More offers are available. Producers have product available and are struggling to find buyers. Majority of the product that is being offered is relatively fresh.
SWP - Feed trading a bit lower this week at levels around EUR 7700/mt DAP NLD for Q2.
On food there are more offers in the market compared to last week with prices between 825 and EUR 950 FCA.
As usual, if you would like to know more please don't hesitate to contact us!
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