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Market News

World

Japan: Milk Production In aumento +4,15%
US: Farm gate milk price In aumento +2,49%
Malaysia: Palm oil price In aumento +0,62%
US: Butter  stock In aumento +19,48%
Uruguay: Farm gate milk price In aumento +6,29%
Uruguay: Milk Delivery In aumento +7,33%

Europe

Germany: Skim Milk Powder (Adpi - SMP) price In calo -0,79%
Germany: Sweet Whey feed quality price In calo -2,90%
Germany: Sweet Whey, food quality price In calo -1,98%
Netherlands: Skim Milk Powder feed price In calo -0,91%
Netherlands: Skim Milk Powder (Adpi-SMP) price In aumento +0,88%
Netherlands: Whole Milk Powder (WMP) price In aumento +1,49%

Italy

IT, Mantua: Grana Padano PDO (10 months) price In aumento +0,53%
IT, Mantua: Grana Padano PDO (14-16 months) price In aumento +0,49%
IT, Verona: Spot milk price In calo -1,09%
IT, Verona: foreign Skim Spot Milk price In calo -2,63%
IT, Verona: foreign Whole Spot Milk price In calo -1,12%
IT, Milan: Parm Reg. PDO (30 months) price In aumento +0,38%
Information Note
  1. Market News evidences only the changes; should no price change or no quotation take place, any mention will be made.
  2. The change/variation concerning PRODUCTION/OUTPUT quantity refers to the same period of the previous year.
  3. The change/variation concerning STOCK quantity refers to the previous month.
  4. The change/variation of price refers to PRICES expressed in local currency (for both EU and the World). The change refers to the previous week/month/year, as the case may be. In the case of dual-listed (min and max), changes are calculated using the MAX PRICE.

Processing input costs

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Show the data of: Previous year

Milk - Balance sheet in Mio Tons | Year 2024 (Forecast made in December)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 552.03+0.4% 119.43+2.2% 196.12+0.8% 470.23+0.7%
India 99.50 +0.5% 110.70 +2.4% 89.00 +2.2% 121.18 +1.0%
Share % 18.0% 92.7% 45.4% 25.8%
EU-27 144.60 -0.1% 4.20 -0.1% 23.65 -0.2% 124.64 -0.1%
Share % 26.2% 3.5% 12.1% 26.5%
United States 103.87 +0.9% 0.00 0.0% 20.40 -1.2% 82.84 +1.4%
Share % 18.8% 0.0% 10.4% 17.6%
China 41.50 +1.2% 1.20 0.0% 17.00 +1.7% 26.48 +1.0%
Share % 7.5% 1.0% 8.7% 5.6%
Russia 32.50 +0.6% 0.00 0.0% 6.70 -1.5% 24.14 +1.4%
Share % 5.9% 0.0% 3.4% 5.1%
Source: USDA, Latest update: 2023-12-20

Global Snapshot

MILK EQUIVALENT | SMP | WMP | BUTTER | CHEESE

Milk Equivalent
('000 Ton)
Δ Milk P. Δ Imp* Δ Exp* Δ Cons* (e) Balance
Δ(P+I-E-C)
Main Players, changes Jan-Dec 2023 on Jan-Dec 2022
EU-27
+52
-102
+1.371
-935
-485
New Zealand
+196
+36
+1.572
+8
-1.349
USA
-24
+35
-533
+1.703
-1.159
United Kingdom
+5
+137
+291
+298
-447
Australia
+19
+146
-643
+301
+508
Uruguay
+26
+6
+36
0
-4
Argentina
-239
-16
-217
+132
-171
Chile
-50
+64
-58
+31
+39
TOTAL
-15
+305
+1.818
+1.539
-3.067

Last update: 2024-02-22
(e) Estimated data
* Import, Export and Consumption data are in Milk Equivalent (ME), comprehensive of WMP, Cheese, SMP+Butter and Liquid Milk. Import and Export data are also comprehensive of Condensed Milk and Yogurt.

Information Note
SOURCE
  • Production:
    • EU-27: Eurostat, FEGA, AGEA, Zuivel;
    • United Kingdom: DEFRA;
    • New Zealand: DCANZ;
    • US: National Agricultural Statistics Service;
    • Australia: Dairy Australia;
    • Belarus: National Statistical Committee of the Republic of Belarus;
    • Uruguay: INALE;
    • Argentina: Subsecretaría de Lechería - Ministerio de Agroindustria;
    • Ukraine: State Statistics Committee of Ukraine;
    • Chile: ODEPA.
  • Import/Export:
    • UE-27: Eurostat
    • United KIngdom: United Kingdom HMRC
    • New Zealand: Stat.nz
    • US: Census Bureau
    • Chile: ODEPA
    • Australia, Belarus, Uruguay, Argentina, Ukraine: IHS
  • Domestic consumption data calculated by applying the incidence of consumption over production reported by FAS-USDA on the productions obtained from the local sources.
    The domestic consumption changes estimated by the FAS-USDA source are updated every six months (June and December).
Note: The balance sheet at the moment does not consider the trade of FFMP (fat-filled milk powder) - HS 190190, milk powder that has a fat content similar to whole milk powder, but instead of butterfat contains vegetable fats.
« Last year Current year »
 
 
/Ton US
(2024-03-22)
OCEANIA
(2024-03-15)
EU¹
(2024-03-27)
GDT²
(2024-03-19)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.070 -5,3% 4.325 +2,7% 4.199 -0,5% 4.190 -2,9%
BUTTER 6.190 -0,5% 6.500 -2,3% 6.133 +0,0% 6.469 +0,8%
SMP 2.590 0,0% 2.663 -5,3% 2.621 -0,8% 2.490 -4,8%
WMP 4.784 0,0% 3.288 -2,6% 3.908 +0,0% 3.122 -3,9%
WHEY POWDER 948 -2,3%     1.015 -1,6%    
MILK (US$/100Kg) 45,42 +2,5% 36,58 +3,3% 50,02 -1,8%    
*Change from previous price
¹ Prices refer to Germany. Cheese prices refer to Cheddar in the European Union (source: European Commission (Milk Market Observatory))
² Contract 2 GDT
n.a.: not available

Show/Hide Global Snapshot in €

/Ton US
(2024-03-22)
OCEANIA
(1710457200)
EU¹
(2024-03-27)
GDT²
(2024-03-19)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 2.815 -5,1% 3.971 +1,9% 3.880 +0,2% 3.847 -3,3%
BUTTER 5.675 -0,4% 5.968 -3,0% 5.650 0,0% 5.939 +0,4%
SMP 2.393 +0,6% 2.444 -6,0% 2.415 -0,8% 2.286 -5,2%
WMP 4.420 +0,6% 3.018 -3,3% 3.600 0,0% 2.866 -4,3%
WHEY POWDER 876 -1,6%     935 -1,6%    
MILK (€/100Kg) 42,07 +3,5% 33,54 +3,3% 46,34 -0,8%    
*Change from previous price
¹ Prices refer to Germany. Cheese prices refer to Cheddar in the European Union (source: European Commission (Milk Market Observatory))
² Contract 2 GDT
n.a.: not available

FOCUS Price Products € in real time

  Area Last
updated
± from
prev. price
± from
1 year ago
Price / Quotation
Whole Milk…
      ▸ “SPOT” Italy 25 Mar 2024 -1,2% +6,4%
      ▸ farm-gate EU (13 country) Feb 2024 -0,8% -12,3%
      ▸ farm-gate USA Feb 2024 +3,5% -5,3%
PDO cheeses…
      ▸ hard Italy 28 Mar 2024 +0,3% +1,7%
      ▸ semi-hard Italy 25 Mar 2024 0,0% -3,4%
      ▸ fresh Italy 25 Mar 2024 0,0% -5,4%
Cheeses Germany and Oceania 27 Mar 2024 +0,5% -0,4%
Butter Italy, Germany and Oceania 27 Mar 2024 -2,0% +22,8%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 27 Mar 2024 -1,5% -5,9%
Whey powder Germany and USA 27 Mar 2024 -2,2% +0,9%
Corn Italy and USA 28 Mar 2024 +0,1% -24,8%
Soybeans Italy and USA 28 Mar 2024 -0,1% -18,3%
Oil Europe 22 Mar 2024 +1,6% +15,7%
Retail price
PDO hard cheeses Italy Feb 2024 +0,3% +0,1%
Fresh cheeses Italy Feb 2024 -0,5% -2,0%
Butter Italy Feb 2024 -1,8% -7,0%
Percentage price changes relate to (i) the last quotation period, and to (ii) the same period of the previous year

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World Supply and Demand

  • CHEESE Stocks
    · US Stocks: Feb 29, 2024 663.735 tons (+0.5% on Jan 31, 2024; +1.7% on Feb, 2023)
    · EU-27
    Consumption (Production + Import - Export): Jan 31,2024 0 tons (+6,8% on 31, 2023; +5,5% on Jan, 2023)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Feb 29, 2024 1.950.891 number of wheels (+5,9% on 31 Jan 2024; -5,7% on Feb, 2023)
    - Total: Feb 29, 2024 5.860.114 number of wheels (+1,7% on 31 Jan 2024; +0,6% on Feb, 2023)

  • DRY WHEY Stocks
    · US Stock: Jan 31, 2024 30.621 tons (-2.6% rispetto a Dec 31, 2023; -1.4% rispetto a Jan, 2023)

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** Compared to the same month of the previous year (Information Note)

Import or Export changes become “Alerts” if the given thresholds are exceeded: Cream ± 20 %, Milk in packings of > 2 l ± 20 %, Milk in packings of <= 2 l ± 20 %, Baby milk ± 15 %, Butter ± 15 %, Cheese ± 15 %, SMP ± 20 %, WMP ± 20 %, Whey powder ± 40 %

Clal Updates and Publications

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a new project:Sistema Stalla Performance and Competitiveness of Italian Dairy Farms
 

CLAL focus on: Latteria Sociale Mantova

Name:
Fresh Grated Grana Padano
Company:
Latteria Sociale Mantova
Base:
S.Antonio di Porto Mantovano (MN), Italy
Establishment year:
1929
Products:
Grana Padano, Organic Grana Padano, Parmigiano Reggiano, Gran Mantovano Black Rind, Butter, Mascarpone

The Grana Padano grated cheese range is wide and includes sizes from the smaller ones (80 g and 100 g bags), to the larger (500 g, 1 kg, 2 kg, 5 kg), specific for retail and catering services.

One of the most successful articles is the fresh grated Grana Padano 100 g, in the Doypack aluminium resealable bag. A captivating and functional packaging, that preserves the flavour and the quality of the product, but also easy to store and ready to use in the kitchen.

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