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Market News

World

Russia: Milk Production In aumento +2,42%
Belarus: Milk Production In aumento +6,78%
Chile: Milk Delivery In aumento +1,81%
US: Cheese 40# Blocks price In aumento +0,68%
US: Butter, Grade AA price In aumento +0,71%
South America: Whole Milk Powder (WMP) price In aumento +1,43%

Europe

Hungary: Farm gate milk price In calo -11,36%
Western Europe: Whey Powder Sweet price In calo -3,33%
Western Europe: WMP price In aumento +3,13%
Western Europe: SMP price In calo -1,74%
Western Europe: Butter price (82%) In aumento +0,38%
Germany: Sweet Whey feed quality price In calo -4,11%

Italy

IT, Verona: foreign Skim Spot Milk price In calo -5,00%
IT, Milan: Grana Padano PDO (9 months) price In aumento +0,54%
IT, Milan: Spot milk price In aumento +1,14%
IT, Milan: foreign Spot Milk 0,03% price In calo -5,00%
IT, Milan: Butter churned price In calo -4,50%
IT, Milan: Butter CEE 1234/07 price In calo -3,08%
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
+53
-121
+1.355
-935
-489
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
+27
+6
+36
0
-3
Argentina
-239
-16
-217
+132
-171
Chile
-50
+64
-58
+31
+39
TOTAL
-14
+286
+1.803
+1.539
-3.070

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
(2024-03-15)
OCEANIA
(2024-03-15)
EU¹
(2024-03-13)
GDT²
(2024-03-05)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 3.241 +0,7% 4.325 +2,7% 4.251 +1,3% 4.315 +4,3%
BUTTER 6.223 +0,7% 6.500 -2,3% 6.386 -1,1% 6.415 -1,7%
SMP 2.590 0,0% 2.663 -5,3% 2.715 -0,9% 2.615 -5,2%
WMP 4.784 +1,4% 3.288 -2,6% 3.979 +0,6% 3.250 -3,7%
WHEY POWDER 970 -2,2%     1.037 -0,4%    
MILK (US$/100Kg) 44,31 -2,4% 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
(2024-03-15)
OCEANIA
(1710457200)
EU¹
(2024-03-13)
GDT²
(2024-03-05)
Product Value % Chg* Value % Chg* Value % Chg* Value % Chg*
CHEESE 2.966 +0,4% 3.971 +1,9% 3.889 +0,2% 3.978 +3,6%
BUTTER 5.696 +0,4% 5.968 -3,0% 5.850 -1,7% 5.915 -2,3%
SMP 2.378 +0,4% 2.444 -6,0% 2.488 -1,5% 2.411 -5,8%
WMP 4.392 +1,8% 3.018 -3,3% 3.645 0,0% 2.996 -4,3%
WHEY POWDER 891 -1,9%     950 -1,0%    
MILK (€/100Kg) 40,64 -2,4% 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 18 Mar 2024 +0,1% +7,6%
      ▸ farm-gate EU (13 country) Feb 2024 -0,8% -13,1%
      ▸ farm-gate USA Jan 2024 -2,4% -14,1%
PDO cheeses…
      ▸ hard Italy 18 Mar 2024 +0,1% +1,4%
      ▸ semi-hard Italy 18 Mar 2024 -0,2% -3,5%
      ▸ fresh Italy 18 Mar 2024 0,0% -5,4%
Cheeses Germany and Oceania 15 Mar 2024 +0,5% +0,4%
Butter Italy, Germany and Oceania 18 Mar 2024 -2,6% +25,0%
SMP (Skimmed Milk Powder) Germany, Oceania and USA 15 Mar 2024 -2,4% -7,1%
Whey powder Germany and USA 15 Mar 2024 -2,9% +1,2%
Corn Italy and USA 14 Mar 2024 -0,3% -27,0%
Soybeans Italy and USA 14 Mar 2024 -0,6% -21,6%
Oil Europe 8 Mar 2024 +1,6% +3,3%
Retail price
PDO hard cheeses Italy Jan 2024 +2,4% -3,4%
Fresh cheeses Italy Jan 2024 +0,8% -0,4%
Butter Italy Jan 2024 +2,9% -8,6%
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: Jan 31, 2024 659.616 tons (+0.8% on Dec 31, 2023; +0.5% on Jan, 2023)
    · EU-27
    Consumption (Production + Import - Export): Dec 31,2023 0 tons (+54,9% on Nov 30, 2023; +14,0% on Dec, 2022)
    · 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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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.


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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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