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Market News

World

US: Farm gate milk price In aumento +2,86%
Malaysia: Palm oil price In aumento +0,94%
Argentina: Farm gate milk price In aumento +9,98%
Argentina: Milk delivery In calo -4,28%
US: Butter  stock In calo -10,63%
US: Cheese 40# Blocks price In calo -0,62%

Europe

Germany: Sweet Whey feed quality price In calo -1,22%
Germany: Sweet Whey, food quality price In aumento +2,11%
Germany: Whole Milk Powder (WMP) price In aumento +0,79%
Germany: Skim Milk Powder feed price In calo -0,40%
Lithuania: Farm gate milk price In aumento +10,51%
Netherlands: Butter price (82%) In aumento +0,36%

Italy

IT, Parma: Churned butter price In aumento +7,46%
IT, Verona: foreign Skim Spot Milk price In calo -1,61%
IT, Milan: Pecorino Romano PDO (5 months) price In calo -0,79%
IT, Milan: Butter CEE 1234/07 price In aumento +4,23%
IT, Milan: Pasteurised butter price In aumento +6,20%
IT, Milan: Butter churned price In aumento +6,57%
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 2023 (Forecast made in July)
Country Cow Milk Production Other Milk Production Fluid Domestic Consumption Factory Use
World 550.50+1.1% 116.79+2.3% 195.09+1.2% 466.77+1.3%
India 99.50 +2.6% 108.00 +2.4% 87.45 +2.9% 120.04 +2.2%
Share % 18.1% 92.5% 44.8% 25.7%
EU-27 144.00 -0.3% 4.20 +1.2% 23.65 -0.6% 123.98 -0.1%
Share % 26.2% 3.6% 12.1% 26.6%
United States 103.60 +0.9% 0.00 0.0% 20.65 -1.2% 82.35 +1.4%
Share % 18.8% 0.0% 10.6% 17.6%
China 41.00 +4.6% 1.20 +4.3% 16.70 +2.8% 26.18 +4.5%
Share % 7.4% 1.0% 8.6% 5.6%
Russia 32.30 +0.5% 0.00 0.0% 6.80 -1.4% 23.80 +1.2%
Share % 5.9% 0.0% 3.5% 5.1%
Source: USDA, Latest update: 2023-07-22

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 2023 on Jan-Sep 2022
EU-27
+568
-55
+1.374
-583
-278
New Zealand
+195
+23
+1.061
+6
-850
USA
+194
-2
-388
+1.000
-420
United Kingdom
+73
+114
+285
-6
-92
Australia
-68
+165
-626
-7
+730
Uruguay
+13
+12
+55
0
-30
Argentina
-65
-14
-208
+96
+33
Chile
-52
+34
-52
0
+34
TOTAL
+857
+277
+1.500
+507
-874

Last update: 2023-11-24
(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
(2023-11-24)
OCEANIA
(2023-11-24)
EU¹
(2023-11-29)
GDT²
(2023-11-21)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.505 -0,6% 3.763 -7,7% 3.788 +0,6% 3.449 -14,7%
BUTTER 5.512 +0,4% 4.925 -2,5% 6.131 +0,8% 4.800 -1,1%
SMP 2.662 -0,2% 2.650 -3,6% 2.984 -0,1% 2.596 -3,5%
WMP 4.134 -5,1% 3.013 +0,4% 4.133 +0,3% 3.009 +2,6%
WHEY POWDER 860 0,0%     1.007 -0,6%    
MILK (US$/100Kg) 47,62 +2,9% 32,68 +6,3% 45,92 -1,1%    
*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
(2023-11-24)
OCEANIA
(1700780400)
EU¹
(2023-11-29)
GDT²
(2023-11-21)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.216 -1,1% 3.447 -9,6% 3.470 +0,2% 3.156 -16,2%
BUTTER 5.057 -0,1% 4.512 -4,6% 5.600 +0,9% 4.392 -2,8%
SMP 2.439 -0,6% 2.428 -5,7% 2.725 0,0% 2.376 -5,1%
WMP 3.787 -5,4% 2.760 -1,7% 3.775 +0,4% 2.753 +0,8%
WHEY POWDER 788 -0,4%     920 -0,5%    
MILK (€/100Kg) 45,08 +4,0% 30,59 +8,5% 43,47 +0,0%    
*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 27 Nov 2023 0,0% -17,2%
      ▸ farm-gate EU (13 country) Oct 2023 +0,2% -17,0%
      ▸ farm-gate USA Oct 2023 +4,0% -21,5%
PDO cheeses…
      ▸ hard Italy 30 Nov 2023 0,0% -6,2%
      ▸ semi-hard Italy 27 Nov 2023 +0,1% -3,3%
      ▸ fresh Italy 27 Nov 2023 0,0% -5,4%
Cheeses Germany and Oceania 29 Nov 2023 -8,4% -22,7%
Butter Italy, Germany and Oceania 29 Nov 2023 +0,4% -6,2%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 29 Nov 2023 -0,5% -18,4%
Whey powder Germany and USA 29 Nov 2023 -0,8% -12,8%
Corn Italy and USA 30 Nov 2023 -0,4% -27,3%
Soybeans Italy and USA 30 Nov 2023 -0,5% -19,4%
Oil Europe 24 Nov 2023 -0,4% -5,5%
Retail price
PDO hard cheeses Italy Oct 2023 +0,1% +0,3%
Fresh cheeses Italy Oct 2023 -1,3% +4,2%
Butter Italy Oct 2023 -4,1% -9,5%
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

  • CHEESE Stocks
    · US Stocks: Oct 31, 2023 664.412 tons (-1.3% on Sep 30, 2023; +1.2% on Oct, 2022)
    · EU-27
    Consumption (Production + Import - Export): Sep 30,2023 0 tons (-16,9% on Aug 31, 2023; -38,0% on Sep, 2022)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Oct 31, 2023 1.772.823 number of wheels (+3,1% on 30 Sep 2023; -2,7% on Oct, 2022)
    - Total: Oct 31, 2023 5.831.962 number of wheels (-1,1% on 30 Sep 2023; +2,5% on Oct, 2022)

  • DRY WHEY Stocks
    · US Stock: Sep 30, 2023 37.822 tons (-5.8% rispetto a Aug 31, 2023; +24.8% rispetto a Sep, 2022)

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Dairy Market Alert

Clal.it outlines hereafter some important changes that occured in the market and may have an impact on the market trend Cheese, Butter, Powder and Packed Milk import and export flows of the main dairy players.


Access the Dairy World Trade section »  to analyse more in depth

** 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: Gorgonzola

Name:
Gorgonzola Cheese PDO
Consortium:
Consorzio per la Tutela del Formaggio Gorgonzola
Base:
Novara
Establishment year:
1970
N° of Associated Farms:
40
Product:
Gorgonzola

This cheese takes its name from the village of Gorgonzola, on the outskirts of Milan. Legend has it that this cheese was made there for first time in 879 A.D.

By law and by tradition there are only two regions in Italy which are entitled to manufacture Gorgonzola cheese, and even within these regions, only some provinces are allowed to produce it.

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