US domestic butter demand remains stellar

US domestic butter demand remains stellar

Between January and August, commercial American cheese disappearance rose 6.2% over the 2020 comparable. That compares to a 2.9% lift in commercial disappearance of other cheese varieties (including mozzarella) over the same 8-month period. In terms of stocks-to-use...
US domestic butter demand remains stellar

EU August milk up 0.8%

EU-27 supplies rose 0.8% YOY in August, based on our analysis of data reported by Eurostat and AGEA. The overall YOY increase was driven by a 5.4% expansion in Ireland, while France was up 1.1%. Spain output rose 3.1%YOY, with Poland and Italy up 0.9% and 3.6%...
GDT results up across the board

GDT results up across the board

Once again, despite the tight fat and SMP supplies in the EU and another strong run-up by NZX milk powder futures quotes, the index for event 294 was just 2.2% higher. The major powders made small gains on average while fats were reflective of the limited options...
GDT results up across the board

Global commodities hit high

The UN Food and Agriculture Organisation’s (FAO) food price index hit a ten-year high at 130.0 points in September, up 1.2% from August and 32.8% higher than in September 2020. According to the FAO, tightening supply and robust demand for staples such as wheat and...
US domestic butter demand remains stellar

EU milk starting to recover?

Estimated EU milk output rose 2.1% YOY in August, a 3-month high. This estimate is based on 15 member countries that have published August data on Eurostat, jointly accounting for 45% of average monthly EU-27 deliveries. Stronger output in Ireland (+5.4%), Poland...
US domestic butter demand remains stellar

US August exports surge

Despite continuing port congestion, US dairy exports increased for the seventh consecutive month in August, reflecting gains in every major product category we track and stellar import demand from Mexico as shipments to China and SE Asia also lifted. In MSE terms,...