World Wholesale Report

Published 12 December 17

Global dairy markets saw further declines in November, with the EU generally seeing the largest price drops. With little change in the EUR/USD exchange rate over the month, the main driver of prices has been increasing milk production.

The drop in butter prices was almost double in EU markets from elsewhere, although EU prices remain just under $400/tonne higher than Oceania prices, and over $900/tonne above US prices.

Milk powder prices also fell across the board, with EU SMP stocks continuing to have a drag on the market. It is reported that most buyers are well stocked, and anticipate further discounting to occur as milk supplies grow seasonally into the spring.

Cheddar prices in the US were the only product to see a price rise in November, up by almost 4%.

World Wholesale Table