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Market News

World

Russia: Milk Production In aumento +0,31%
Chile: Milk Delivery In aumento +5,77%
US: Cheese 40# Blocks price In aumento +3,50%
US: Butter, Grade AA price In aumento +2,11%
South America: Whole Milk Powder (WMP) price In aumento +3,66%
Oceania: Cheddar price In calo -3,65%

Europe

Romania: Farm gate milk price In aumento +3,76%
Western Europe: Whey Powder Sweet price In aumento +4,26%
Western Europe: WMP price In calo -0,52%
Western Europe: SMP price In aumento +0,87%
Western Europe: Butter price (82%) In calo -0,86%
Poland: Butter price (82%) In aumento +3,83%

Italy

IT, Verona: foreign Whole Spot Milk price In calo -3,03%
IT, Verona: foreign Skim Spot Milk price In calo -7,14%
IT, Verona: Spot milk price In calo -2,94%
IT: Gorgonzola PDO Production In calo -0,94%
IT, Milan:  Parm Regg PDO (18 mo.) price In aumento +1,12%
IT, Milan: Grana Padano RISERVA PDO (20 months) price In aumento +0,41%
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-Sep 2024 on Jan-Sep 2023
EU-27
+606
+121
-940
-218
+1.884
New Zealand
+127
-54
+61
0
+12
USA
-203
+179
+204
+983
-1.210
Australia
+200
-108
+597
+149
-654
United Kingdom
+19
+138
-86
-82
+325
Argentina
-812
-14
+217
-558
-486
Uruguay
-72
-8
-11
0
-69
Chile
+43
-1
+62
+6
-27
TOTAL
-93
+253
+105
+280
-225

Last update: 2024-11-26
(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
(2024-12-06)
OCEANIA
(2024-12-06)
EU¹
(2024-12-04)
GDT²
(2024-12-03)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.748 +3,5% 4.738 -1,8% 4.547 +1,7% 4.645 -3,8%
BUTTER 5.611 +2,1% 6.838 -3,4% 8.567 -0,1% 6.664 -4,4%
SMP 3.064 -0,7% 2.888 -0,4% 2.786 -1,0% 2.825 -1,1%
WMP 4.960 -0,9% 3.925 +4,7% 4.662 -0,4% 3.965 +3,9%
WHEY POWDER 1.428 +5,7%     1.156 +2,2%    
MILK (US$/100Kg) 55,56 -1,2% 43,94 +3,2% 55,63 -1,3%    
*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
(2024-12-06)
OCEANIA
(1733439600)
EU¹
(2024-12-04)
GDT²
(2024-12-03)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.556 +3,3% 4.477 -3,4% 4.305 +0,2% 4.421 -3,3%
BUTTER 5.323 +1,9% 6.462 -4,9% 8.150 0,0% 6.342 -4,0%
SMP 2.896 -1,3% 2.729 -2,0% 2.650 -0,9% 2.689 -0,6%
WMP 4.688 -1,4% 3.709 +3,0% 4.435 -0,3% 3.774 +4,3%
WHEY POWDER 1.349 +5,1%     1.100 +2,3%    
MILK (€/100Kg) 50,95 +0,7% 40,30 +5,1% 52,33 +1,2%    
*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 9 Dec 2024 -3,1% +22,3%
      ▸ farm-gate EU (13 country) Nov 2024 +6,8% +19,2%
      ▸ farm-gate USA Oct 2024 +0,7% +13,5%
  PDO cheeses…
      ▸ hard Italy 9 Dec 2024 +0,9% +20,3%
      ▸ semi-hard Italy 9 Dec 2024 +0,2% +5,0%
      ▸ fresh Italy 9 Dec 2024 0,0% +5,0%
Cheeses Germany and Oceania 6 Dec 2024 -0,9% +23,5%
Butter Italy, Germany and Oceania 9 Dec 2024 -1,9% +46,4%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 6 Dec 2024 -1,3% +5,5%
Whey powder Germany and USA 6 Dec 2024 +3,1% +37,5%
  Feed input
      ▸ Corn Italy and USA 5 Dec 2024 +0,8% -2,7%
      ▸ Soybeans Italy and USA 5 Dec 2024 -1,2% -13,0%
      ▸ GMO Soybean Meal Italy 5 Dec 2024 -1,3% -32,6%
Oil Europe 29 Nov 2024 -0,9% -8,3%
Retail price
PDO hard cheeses Italy Oct 2024 +1,0% +5,5%
Fresh cheeses Italy Oct 2024 -1,5% -1,7%
Butter Italy Oct 2024 +2,5% +12,4%
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: Oct 31, 2024 609.012 tons (-1.9% on Sep 30, 2024; -8.0% on Oct, 2023)
    · EU-27
    Consumption (Production + Import - Export): Sep 30,2024 0 tons (+6,3% on Aug 31, 2024; +119,1% on Sep, 2023)
    · ITALY

    Grana Padano Stocks:
    - Marked PDO: Oct 31, 2024 1.723.207 number of wheels (+0,5% on 30 Sep 2024; -2,8% on Oct, 2023)
    - Total: Oct 31, 2024 5.901.012 number of wheels (-2,0% on 30 Sep 2024; +1,2% on Oct, 2023)

  • DRY WHEY Stocks
    · US Stock: Oct 31, 2024 22.921 tons (-9.4% rispetto a Sep 30, 2024; -32.9% rispetto a Oct, 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: Baffalo Blu

Name:
Baffalo Blu
Company:
Caseificio Defendi Luigi Srl
Base:
Vidalengo (BG), Italy
Establishment year:
1865
Products:
Taleggio, Gorgonzola, Quartirolo, Crescenza, Torte, Capricci, Porzionati, Gorgonzola-mascarpone, buffalo cheese, organic, lactose-free

A soft blue cheese made from Italian buffalo milk. It is cylindrical shaped and weights 6 Kg.
Characterized by a compact texture with a light cream colour and blue veins. The long ageing process gives to this cheese an unmistakable, intense and distinct flavour, strongly aromatic.
A cheese speciality with a unique taste.

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