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Market News

World

New Zealand: Milk Production In aumento +8,99%
Australia: Milk delivery In aumento +3,41%
Argentina: Milk delivery In calo -6,17%
Argentina: Farm gate milk price In aumento +1,71%
Malaysia: Palm oil price In aumento +2,57%
Mexico: Milk Production In aumento +1,99%

Europe

DE, Kempten: "Markenbutter" price In aumento +2,47%
Germany: Skim Milk Powder (Adpi - SMP) price In calo -1,11%
Germany: Sweet Whey feed quality price In aumento +3,75%
Germany: Whole Milk Powder (WMP) price In aumento +1,11%
Germany: Skim Milk Powder feed price In aumento +1,22%
DE, Hannover: Gouda 45% price In aumento +1,12%

Italy

IT, Mantua: Grana Padano PDO (14-16 months) price In aumento +0,45%
IT, Mantua: Grana Padano PDO (10 months) price In aumento +0,50%
IT: Asiago Fresh PDO Production In calo -6,30%
IT, Milan: Spot milk price In aumento +1,54%
IT, Milan: Grana Padano RISERVA PDO (20 months) price In aumento +0,42%
IT, Milan: Grana Padano PDO (16 months) price In aumento +0,44%
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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Milk - Balance sheet in Mio Tons | Year 2024 (Forecast made in July)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 552.02+0.2% 119.11+2.2% 195.82+0.7% 470.50+0.5%
India 99.50 +0.5% 110.70 +2.4% 89.00 +2.2% 121.18 +1.0%
Share % 18.0% 92.9% 45.4% 25.8%
EU-27 145.30 +0.0% 4.08 -0.2% 23.65 -0.2% 125.26 +0.1%
Share % 26.3% 3.4% 12.1% 26.6%
United States 102.92 +0.2% 0.00 0.0% 20.40 -1.2% 81.89 +0.6%
Share % 18.6% 0.0% 10.4% 17.4%
China 42.50 +1.3% 1.00 +2.0% 16.70 +1.2% 27.52 +1.0%
Share % 7.7% 0.8% 8.5% 5.8%
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: 2024-07-24

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-Jun 2024 on Jan-Jun 2023
EU-27
+684
+142
-693
+92
+1.427
New Zealand
-117
-24
+32
0
-173
USA
-228
+126
-45
+426
-484
Australia
+161
-107
+443
+62
-452
United Kingdom
-2
+22
-33
-3
+57
Argentina
-677
-12
+169
-306
-552
Uruguay
-41
-11
-63
0
+11
Chile
+18
+42
+43
+8
+10
TOTAL
-202
+177
-147
+278
-156

Last update: 2024-09-14
(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
(2024-09-13)
OCEANIA
(2024-09-13)
EU¹
(2024-09-18)
GDT²
(2024-09-17)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 5.016 +0,2% 4.375 +0,3% 4.377 -0,4% 4.492 +3,8%
BUTTER 6.901 -1,4% 6.613 -1,9% 9.078 +3,5% 6.501 -2,5%
SMP 2.965 +3,1% 2.750 +4,8% 2.907 +0,4% 2.791 +1,5%
WMP 5.291 +1,3% 3.438 -2,5% 4.985 +2,1% 3.459 +0,4%
WHEY POWDER 1.191 +0,9%     1.147 +1,0%    
MILK (US$/100Kg) 50,27 0,0% 38,95 +4,4% 51,63 +2,6%    
*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
(2024-09-13)
OCEANIA
(1726178400)
EU¹
(2024-09-18)
GDT²
(2024-09-17)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 4.553 +1,0% 3.948 +0,3% 3.950 -0,2% 4.037 +3,2%
BUTTER 6.264 -0,7% 5.967 -1,8% 8.150 +2,5% 5.843 -3,0%
SMP 2.676 +3,3% 2.482 +4,8% 2.610 -0,6% 2.509 +0,9%
WMP 4.775 +1,5% 3.102 -2,4% 4.475 +1,1% 3.109 -0,2%
WHEY POWDER 1.074 +1,1%     1.030 0,0%    
MILK (€/100Kg) 46,35 -0,8% 35,92 +3,6% 46,82 +0,9%    
*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 17 Sep 2024 +0,7% +26,4%
      ▸ farm-gate EU (13 country) Aug 2024 +1,0% +6,3%
      ▸ farm-gate USA Jul 2024 -0,8% +34,4%
  PDO cheeses…
      ▸ hard Italy 19 Sep 2024 +0,7% +12,9%
      ▸ semi-hard Italy 17 Sep 2024 +0,3% +2,9%
      ▸ fresh Italy 16 Sep 2024 0,0% +3,2%
Cheeses Germany and Oceania 18 Sep 2024 +0,4% +5,3%
Butter Italy, Germany and Oceania 18 Sep 2024 +0,4% +66,5%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 18 Sep 2024 +2,1% +17,0%
Whey powder Germany and USA 18 Sep 2024 +2,3% +51,8%
  Feed input
      ▸ Corn Italy and USA 19 Sep 2024 -0,2% -4,5%
      ▸ Soybeans Italy and USA 19 Sep 2024 -1,9% -8,8%
      ▸ GMO Soybean Meal Italy 19 Sep 2024 0,0% -17,1%
Oil Europe 13 Sep 2024 -4,2% -23,2%
Retail price
PDO hard cheeses Italy Jul 2024 +1,8% +1,1%
Fresh cheeses Italy Jul 2024 +0,8% -3,5%
Butter Italy Jul 2024 +3,6% -1,1%
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: Jul 31, 2024 638.187 tons (-0.7% on Jun 30, 2024; -5.8% on Jul, 2023)
    · EU-27
    Consumption (Production + Import - Export): Jul 31,2024 0 tons (-32,4% on Jun 30, 2024; -6,3% on Jul, 2023)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Aug 31, 2024 1.691.840 number of wheels (-0,2% on 31 Jul 2024; -0,1% on Aug, 2023)
    - Total: Aug 31, 2024 6.104.090 number of wheels (-0,9% on 31 Jul 2024; +1,8% on Aug, 2023)

  • DRY WHEY Stocks
    · US Stock: Jul 31, 2024 28.961 tons (-6.1% rispetto a Jun 30, 2024; -26.7% rispetto a Jul, 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 %

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

CLAL focus on: Grana Padano Gira & Gratta

Name:
Grana Padano Gira & Gratta
Company:
PARMAREGGIO SPA – Agriform Brand
Base:
Sommacampagna (VR), Italy
Products:
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An innovative product that combines the fragrance of Grana Padano with a practical and hygienic rotating grater. The grater contains Grana Padano PDO packaged in a protective atmosphere.

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