CLAL - Advisory in Dairy and Food Product

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China: recovery after lockdown and trade agreements with the U.S.

This edition of CLAL Lens aims to quantify:

the recovery of China’s imports after the lockdown implemented to face the spread of Coronavirus, and
the effect of the recent trade agreements with the United States

The information is reported both in terms of volumes and value, with real-time updates.

Check out the China imports with breakdown by dairy product >

Flash Bulletins on the Dairy Market

Reports on specific topics to find engaging answers to market questions

Flash Bulletins on the Dairy Market

Reports on specific topics to find engaging answers to market questions.

November 30, 2018

August 31, 2018

A new Flash Bulletin will be available soon...

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Market News

World

Malaysia: Palm oil price	In aumento	+4,61%
US: Butter stock	In calo	-12,70%
Russia: Farm gate milk price	In aumento	+2,13%
Ukraine: Milk production	In calo	-4,49%
New Zealand: Milk Production	In aumento	+0,84%
US: Cheese 40# Blocks price	In calo	-14,21%

Europe

Netherlands: Skim Milk Powder feed price	In aumento	+0,49%
Netherlands: Skim Milk Powder (Adpi-SMP) price	In aumento	+0,47%
Netherlands: Whole Milk Powder (WMP) price	In aumento	+0,74%
Netherlands: Whey Powder feed price	In aumento	+1,37%
Germany: Skim Milk Powder feed price	In aumento	+0,98%
Germany: Skim Milk Powder (Adpi - SMP) price	In aumento	+0,45%

Italy

IT,Reggio Emilia: Parmig. Regg. (24 months) price	In aumento	+0,83%
IT, Milan: Spot milk price	In aumento	+1,37%
IT, Milan: Pecorino Romano PDO (5 months) price	In aumento	+1,97%
IT, Milan: Parm Reg. PDO (30 months) price	In aumento	+0,39%
IT, Milan: Parm Reg. PDO (24 months) price	In aumento	+0,41%
IT, Milan: Parm Regg PDO (18 mo.) price	In aumento	+0,45%

click to see the
AGRICULTURAL MARKET News:
PRICES of FEED and FERTILIZERS

Information Note

Market News evidences only the changes; should no price change or no quotation take place, any mention will be made.
The change/variation concerning PRODUCTION/OUTPUT quantity refers to the same period of the previous year.
The change/variation concerning STOCK quantity refers to the previous month.
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.

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-Sep 2020 on Jan-Sep 2019
EU-28	+1,7% +2.083	-15,4% -75	-3,9% -659	+0,2% +212	+2.455
New Zealand	+0,9% +113	+6,1% +8	-2,8% -356	+1,4% +16	+461
USA	+1,9% +1.394	-2,8% -36	+17,4% +1.390	+1,1% +760	-792
Belarus	+5,1% +288	+11,7% +6	+9,8% +290	-1,6% -33	+38
Australia	+4,2% +252	+9,1% +87	-1,9% -47	-0,5% -23	+409
Uruguay	+5,8% +83	+26,9% +9	-1,1% -12	0% 0	+103
Argentina	+7,8% +553	-69,6% -25	+62,9% +394	+5,3% +230	-95
Ukraine	-4,0% -303	+137,1% +194	-30,7% -101	+0,2% +14	-21
Chile	+6,3% +93	+21,6% +97	-4,0% -5	0% 0	+195
TOTAL	*+1,9%* +4.557	*+7,5%* +266	*+2,0%* +894	*+0,6%* +1.177	+2.753
Last update: 2020-11-19 (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-28: Eurostat, FEGA, DEFRA, AGEA, Zuivel; 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: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: FAS-USDA 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 »

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 2019 on Jan-Dec 2018
EU-28	+0,5% +857	+15,6% +88	+9,2% +1.840	+0,9% +1.402	-2.297
New Zealand	-0,7% -160	+26,4% +40	+9,0% +1.587	+1,7% +27	-1.734
USA	+0,4% +369	+4,2% +71	-0,6% -65	+1,3% +1.130	-625
Belarus	+0,7% +49	+1,9% +1	+5,0% +190	+5,6% +143	-282
Australia	-6,5% -620	+6,3% +76	-11,6% -447	+1,0% +66	-162
Uruguay	-4,5% -96	-0,4% -0	-3,4% -52	0% 0	-44
Argentina	-1,8% -177	-4,8% -2	-20,8% -303	-3,4% -206	+331
Ukraine	-4,0% -407	+64,7% +89	-2,5% -10	+1,9% +152	-460
Chile	-1,4% -31	-14,7% -96	-2,3% -4	-3,0% -16	-108
TOTAL	*-0,1%* -216	*+5,9%* +267	*+4,6%* +2.736	*+1,0%* +2.698	-5.382
Last update: 2020-11-19 (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-28: Eurostat, FEGA, DEFRA, AGEA, Zuivel; 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: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: FAS-USDA 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 »

SMP ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Jun 2020 on Jan-Jun 2019
EU-28	+0,9% +8	-62,5% -2	-15,8% -81	-8,2% -33	+120
USA	+3,4% +19	+6,5% +0	+25,0% +82	+21,0% +43	-106
New Zealand	0% 0	+50,3% +1	+1,2% +2	0% 0	-2
Australia	-15,9% -8	+21,7% +2	-10,8% -8	+6,7% +2	+0
TOTAL	*+1,3%* +19	*+1,2%* +0	*-0,4%* -5	*+1,8%* +11	+12
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of WMP export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

SMP ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Dec 2019 on Jan-Dec 2018
EU-28	-1,1% -16	+62,2% +2	+17,8% +146	-17,0% -167	+8
USA	+3,7% +39	-56,0% -1	-1,5% -11	+10,2% +38	+11
New Zealand	0% 0	+47,6% +1	+4,1% +15	+20,0% +1	-14
Australia	-25,5% -51	+14,3% +2	-17,7% -27	-6,3% -3	-19
TOTAL	*-1,0%* -29	*+22,6%* +5	*+6,0%* +122	*-9,3%* -131	-15
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of WMP export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

WMP ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Jun 2020 on Jan-Jun 2019
New Zealand	0% 0	-19,9% -0	-4,6% -37	-8,7% -1	+38
EU-28	+7,3% +29	-92,2% -4	+15,2% +22	-3,6% -9	+12
USA	-22,3% -9	+127,1% +8	+32,9% +5	-4,3% -2	-5
Australia	+42,3% +6	+60,5% +10	-20,9% -5	-5,4% -1	+22
TOTAL	*+5,8%* +26	*+47,1%* +13	*-1,5%* -15	*-4,0%* -12	+66
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, BLE, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of WMP export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

WMP ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Dec 2019 on Jan-Dec 2018
New Zealand	0% 0	+108,9% +2	+12,2% +167	+15,0% +3	-168
EU-28	+2,0% +16	+194,6% +3	-10,9% -36	+11,0% +48	+8
USA	-2,2% -1	+62,4% +5	-18,4% -9	+35,3% +18	-5
Australia	-40,3% -25	+31,8% +9	-24,0% -13	+5,7% +2	-5
TOTAL	*-1,2%* -11	*+48,8%* +20	*+6,0%* +108	*+13,1%* +71	-170
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, BLE, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of WMP export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

BUTTER ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Jun 2020 on Jan-Jun 2019
New Zealand	0% 0	-65,1% -0	-9,4% -24	+3,4% +1	+23
EU-28	+2,0% +24	-81,1% -8	+64,4% +58	+0,2% +2	-43
USA	+7,0% +34	+9,1% +3	-19,2% -3	+2,5% +11	+28
Australia	+18,6% +3	+19,7% +4	-54,2% -6	-4,4% -1	+14
TOTAL	*+3,6%* +60	*-2,0%* -1	*+6,5%* +24	*+0,8%* +13	+22
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat; New Zealand: The Data are calculated by applying the incidence of BUTTER export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

BUTTER ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Dec 2019 on Jan-Dec 2018
New Zealand	0% 0	+35,6% +0	+1,7% +8	+3,6% +1	-9
EU-28	+4,3% +94	-35,1% -7	+35,7% +57	+1,3% +27	+3
USA	+1,3% +12	+17,4% +10	-36,6% -19	+4,4% +38	+3
Australia	-23,4% -12	-3,1% -1	+6,8% +1	-1,7% -1	-13
TOTAL	*+3,0%* +94	*+1,6%* +2	*+6,8%* +46	*+2,2%* +65	-16
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat; New Zealand: The Data are calculated by applying the incidence of BUTTER export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

CHEESE ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Jun 2020 on Jan-Jun 2019
EU-28	+2,2% +104	-2,5% -1	+9,3% +39	+0,6% +26	+38
USA	+0,6% +19	-8,9% -7	+0,1% +0	+1,9% +56	-44
New Zealand	0% 0	-6,3% -0	-6,3% -11	+5,3% +1	+10
Australia	+4,2% +7	+1,5% +1	-2,6% -2	+1,6% +3	+7
TOTAL	*+1,6%* +130	*-4,4%* -7	*+3,0%* +26	*+1,1%* +85	+11
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, CSO, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of CHEESE export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 »

CHEESE ('000 Tons)	Δ Prod	Δ Imp*	Δ Exp*	Δ Cons* (e)	Balance Δ(P+I-E-C)
Main Players, changes Jan-Dec 2019 on Jan-Dec 2018
EU-28	+0,6% +59	+7,1% +4	+5,6% +47	+0,7% +66	-50
USA	+0,8% +45	+2,4% +4	+3,4% +12	+1,3% +76	-38
New Zealand	0% 0	+9,0% +1	+4,0% +13	-5,0% -2	-10
Australia	-0,7% -3	-1,5% -1	-7,0% -12	+3,7% +11	-3
TOTAL	*+0,6%* +102	*+2,3%* +8	*+3,6%* +60	*+1,0%* +151	-101
Last update: 2020-09-26 (e) Estimated data Information Note SOURCE Production: EU-28: Eurostat, CSO, data estimated by CLAL; New Zealand: The Data are calculated by applying the incidence of CHEESE export on Total Dairy export to the annual production data (Source: FAS-USDA). The same calculation is used also to the current year data, applying the incidence calculated for the previous year. US: National Agricultural Statistics Service; Australia: Dairy Australia; Import/Export: EU-28: Eurostat; New Zealand: Stat.nz; US: Census Bureau. Domestic Consumption: Data calculated by applying the incidence of FAS-USDA consumption (compared to FAS-USDA productions) to the production data (retrieved from local sources). 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 (2020-11-20)		OCEANIA (2020-11-20)		EU¹ (2020-11-25)		GDT² (2020-11-17)
Product	Value	% Chg*	Value	% Chg*	Value	% Chg*	Value	% Chg*
CHEESE	3.627	-14,2%	3.613	-5,2%	3.224	+1,0%	3.642	-2,8%
BUTTER	2.965	-3,9%	3.825	0,0%	4.034	-0,9%	3.820	-0,7%
SMP	2.392	0,0%	2.813	+0,9%	2.598	+0,3%	2.769	+2,3%
WMP	3.505	-2,2%	3.038	+1,3%	3.298	+0,9%	3.019	+1,8%
WHEY POWDER	893	+1,3%			973	+1,1%
MILK (US$/100Kg)	39,46	-4,8%	33,93	+5,7%	39,66	+2,6%
Change from previous price ¹ Prices refer to Germany. Cheese and Milk European prices refer to Milk Market Observatory. ² Contract 2 GDT n.a.*: not available

Show/Hide Global Snapshot in €

/Ton	US (2020-11-20)		OCEANIA (1605826800)		EU¹ (2020-11-25)		GDT² (2020-11-17)
Product	Value	% Chg*	Value	% Chg*	Value	% Chg*	Value	% Chg*
CHEESE	3.065	-14,5%	3.053	-5,1%	3.224	+1,0%	3.079	-4,3%
BUTTER	2.506	-4,3%	3.233	+0,2%	3.400	-0,7%	3.229	-2,2%
SMP	2.022	-0,3%	2.377	+1,1%	2.190	+0,5%	2.341	+0,8%
WMP	2.963	-2,5%	2.567	+1,4%	2.780	+1,1%	2.552	+0,3%
WHEY POWDER	755	+0,9%			820	+1,2%
MILK (€/100Kg)	33,46	-4,5%	28,77	+6,0%	33,63	+2,9%
Change from previous price ¹ Prices refer to Germany. Cheese and Milk European prices refer to 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	23 Nov 2020	+0,3%	-15,0%
▸ farm-gate	EU (13 country)	Oct 2020	+1,4%	-1,8%
▸ farm-gate	USA	Sep 2020	-4,5%	-13,5%
PDO cheeses…
▸ hard	Italy	23 Nov 2020	+0,9%	+1,0%
▸ semi-hard	Italy	23 Nov 2020	0,0%	+1,1%
▸ fresh	Italy	23 Nov 2020	0,0%	0,0%
Cheeses	Germany and Oceania	25 Nov 2020	-1,4%	-5,6%
Butter	Italy, Germany and Oceania	25 Nov 2020	-0,2%	-7,7%
SMP (Skimmed Milk Powder)	Germany, Oceania and USA	25 Nov 2020	+0,9%	-13,8%
Whey powder	Germany and USA	25 Nov 2020	+1,8%	+12,4%
Corn	Italy and USA	17 Nov 2020	+3,2%	-1,5%
Soybeans	Italy and USA	17 Nov 2020	+4,2%	+16,0%
Oil	Europe	13 Nov 2020	+8,4%	-33,1%
Retail price
PDO hard cheeses	Italy	Oct 2020	+1,2%	-4,1%
Fresh cheeses	Italy	Oct 2020	-3,2%	-2,1%
Butter	Italy	Oct 2020	-1,4%	-2,5%

Percentage price changes relate to (i) the last quotation period, and to (ii) the same period of the previous year

CLICK HERE for further information.

World Supply and Demand

Global Milk Supply in the Key Exporters of Dairy Products: +1,9% (Jan'20 - Oct'20)

Dairy Products Production in some Key Exporting Countries

Milk Powders (WMP and SMP), Butter and Cheese Exports of the main Exporting countries +3,37% (Aug'20 - Sep'20)

BUTTER Stocks
· US Stocks: Oct 31, 2020 136.201 tons (-12.7% on Sep 30, 2020; +28.0% on Oct, 2019)
· EU-28

- Public Stocks: Oct 31, 2020 28.904 tons (-46.0% on Sep 30, 2020; > +1,000.0% on Oct, 2019)
- Consumption (Production + Import - Export): Sep 30,2020: 160.191 tons (+4,6% on Aug 31, 2020; +6,3% on Sep, 2019)

SMP Stocks
· US Stocks: Sep 30, 2020 105.800 tons (-13.8% on Aug 31, 2020; -7.0% on Sep, 2019)
· EU-28
- Public Stocks: Oct 31, 2020 12.567 tons (-26.7% on Sep 30, 2020; > +1,000.0% on Oct, 2019)
- Consumption (Production + Import - Export): Sep 30,2020 63.582 tons (+40,0% on Aug 31, 2020; +142,6% on Sep, 2019)

CHEESE Stocks
· US Stocks: Oct 31, 2020 607.141 tons (-1.3% on Sep 30, 2020; -0.2% on Oct, 2019)
· EU-28
Consumption (Production + Import - Export): Sep 30,2020 0 tons (+40,0% on Aug 31, 2020; +142,6% on Sep, 2019)
· ITALY

Grana Padano Stocks:
- Marked PDO: Oct 31, 2020 1.756.188 number of wheels (+0,0% on 30 Sep 2020; +4,3% on Oct, 2019)
- Total: Oct 31, 2020 5.700.558 number of wheels (-1,5% on 30 Sep 2020; +2,5% on Oct, 2019)

DRY WHEY Stocks
· US Stock: Sep 30, 2020 36.032 tons (-8.4% rispetto a Aug 31, 2020; -3.8% rispetto a Sep, 2019)

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GlobalDairyTrade results of November 17, 2020

Change in Price Index from Previous Event: +1,8 %
Average Winning Price: 3.157 US$ / Ton

	Average price USD / Ton	Change
AMF (Anhydrous Milk Fat)	4.175	+4,1 %
BMP (Butter Milk Powder)	n.a.	-
BUTTER 82%	3.838	+0,4 %
RENNET CASEIN	n.a.	-
CHEDDAR	3.641	-3,5 %
LACTOSE	887	-18,8 %
MPC (Milk Protein Concentrate)	n.a.	-
SMP (Skim. milk Powder)	2.799	+2,5 %
SWP (Sweet Whey Powder)	n.a.	-
WMP (Whole milk Powder)	3.037	+1,8 %

Next GlobalDairyTrade Event: December 01, 2020

ITALY: Import/Export as of August 31, 2020

Exports of G.Padano + P.Reggiano:	-0,12 %
Exports of Gorgonzola:	+3,83 %
Exports of Grated cheese:	+4,88 %

Imports of Full-fat bulk milk:	-20,92 %
Imports of Packed semi-skimmed milk:	-3,50 %

Next Update: December 10, 2020

December 2019: Quarterly Macroeconomic Outlook
Macroeconomic Outlook edited by the Research Department of Intesa Sanpaolo Group, Italy

a new project: Sistema Stalla

Performance and Competitiveness of Italian Dairy Farms

CLAL focus on: Asiago PDO Product of the Mountain

Name:: Asiago PDO Product of the Mountain

Consortium:: Consorzio Tutela Formaggio Asiago
Base:: Vicenza, Italy
Establishment year:: 1979

Products:: Fresh Asiago, Mature Asiago, Asiago Product of the Mountain

It is the traditional cheese of the Asiago Plateau. Asiago Cheese, which boasts the name "Product of the Mountain", is produced and aged only by cheese-makers located in mountain territory lying at an altitude of over 600 metres, according to strict production guidelines that highlight the repetition of an ancient tradition that protects the environment, grazing livestock and the consumer.

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CLAL for Tech

Clal opens up a showcase for innovative technological products. Each product is linked with a technical sheet and a Company profile.

Agricultural Market Feed

IT, Milan: Hard wheat (North Italy) price	In aumento	+0,67%
IT, Milan: Italian Soybeans flour price	In aumento	+1,81%
IT, Milan: Pressed forst corp hay price	In aumento	+2,27%
IT, Milan: Hard wheat (Center Italy) price	In aumento	+0,97%
IT, Milan: Dehydrated lucerne price	In aumento	+2,61%
IT, Milan: Italian Sorghum price	In aumento	+1,60%
IT, Milan: Italian Corn price	In calo	-0,53%
IT, Milan: EU barley price	In aumento	+1,50%
IT, Milan: Foreign soybeans price	In aumento	+3,57%
IT, Milan: Italian soybeans price	In aumento	+2,94%
IT, Milan: pressed lucerne hay price	In aumento	+2,39%
US: Corn price	In calo	-2,17%

Information Note

Market News evidences only the changes; should no price change or no quotation take place, any mention will be made.
The change/variation concerning PRODUCTION/OUTPUT quantity refers to the same period of the previous year.
The change/variation concerning STOCK quantity refers to the previous month.
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.

Feed Cost

Weight of the Protein Component	50%
Simulated Feed Ration (vs prev month)	+7.70%
Milk:Feed Ratio	1.34

Prices of Fertilizers

I - Modena, Triple superphosphate granular 46%	Stabile	356	€/ton	0.00%
I - Modena, Ammonium nitrate prilled 26%	In aumento	255	€/ton	+13,33%
I - Modena, Urea prilled 46%	Stabile	393	€/ton	0.00%