Fat prices weaker

Fat prices weaker

Fat values are weakening as butter prices dropped to €3,990/t last week, while cream has come off its of mid-March highs when quotes ranged from €4,800/t to €5,000/t, now selling at prices ranging from €4,350/t to €4,450/t. Butter prices declined €50/t, with Dutch...
Fat prices weaker

EU milk value crawls up to 36c

German-based IFE Institute’s estimated average EU raw milk value is up 0.3c to 35.9c/kg at the based on official prices of butter and SMP in Germany, France and the Netherlands. The average price of butter is up €63 to €4,147/t while SMP averaged €2,502/t, up €8....
Fat prices weaker

LTO average milk price up slightly

The monthly EU farmgate milk price lifted 0.16c to 33.53c/kg in December but remains down 0.66c/kg (-1.9%) compared to December 2019, according to the latest data from the Dutch Milk Board (LTO). Glanbia recorded the biggest lift in farmgate milk price (+2.6c) due to...

Fonterra NZ lifts price forecast

Fonterra has lifted its forecast farmgate milk price range to NZ$6.70kgMS – NZ$7.30kgMS due to strong demand from Chinese buyers, reflected in recent GDT auctions. The Q1 business update revealed that Group normalised EBIT had lifted to NZ$250m, up from NZ$72m last...
Fat prices weaker

EU cheese prices weaker

Spot quotes for key products are declining with mozzarella, Gouda and cheddar prices falling since the start of the month. Spot quotes for Gouda are down €150/t to a midpoint of €2,750/t, while Cheddar prices have softened to €3,125/t, down from €3,200/t at the start...
Fat prices weaker

US cheese prices crash

As expected with the gradual loosening of cheese supplies, propelled by increasingly smaller volumes sought for food aid programs, CME cheese markets continued to be highly volatile, this time dropping by record daily amounts. Blocks fell more than US$2,100/t over the...