EU-27 dairy exports were mixed in September across product categories we track.  At 61,619t, SMP exports were flat YOY, with growth into Northern Africa but less product into China & HK. The current and projected EU-27 SMP stock situation is tight, particularly considering the slow milk growth in key producing countries such as Germany and France.

WMP exports continued to track lower YOY, falling 14.8% YOY in September and down 16.9% for the corresponding quarter. Fat exports were also lower in September. Butter and AMF were down 4.2% YOY and 14.7% YOY respectively for the month.

Data for cheese exports to the UK is incomplete at the time of editing but given reported UK imports for the month, we assume shipments of 39,500t to this market in September with total exports of 122,333t. Overall EU-27 cheese exports were 2.2% up YOY in September, mostly reflecting stronger sales into North America (US) and non-EU Europe.