Official EU prices have lifted for 13 consecutive weeks with butter prices in all three major markets remaining above €5,000/t. In Germany butter rose €50/t €5,350/t, while Dutch butter rose €120/t to €5,340/t and French butter was on par with the week prior, selling for €5,000/t. Quotes for SMP across the three markets lifted €18/t to average €3,012/t. French SMP fell €15/t to average €2,950/t. Dutch SMP prices remained unchanged at €3,050/t, while the German SMP price rose €70/t to €3,095/t.
As a result of firming commodity values, German-based IFE institute’s estimated average EU raw milk value rose 0.4c last week to 46.1c/kg, setting a new record since calculation began in 2007. Freshagenda’s own EU commodity milk value is tracking at 47.97c/kg, also at a record high.