World Wholesale Report

Published 10 October 17

It appears that the global dairy markets have become more balanced, with prices for most products declining in September. In some cases, prices have fallen on the back of improved supplies or stock positions, while for others it may be that demand has reacted to historically high prices.

Butter prices rose again in September in both the EU and Oceania, although the rate of increase is much smaller than in previous months. Although milk production is now rising in the EU, it has been reported that some demand resistance is also at play in this market. In Oceania, lower than expected milk production is holding up butter prices.

This is also impacting Oceania’s WMP prices, which while lower, have been propped up by concerns over milk production. Elsewhere, prices have fallen on the back of reduced demand.

SMP prices continue their downward trend, pushed down in the EU by the closure of Intervention at the end of the month. This is keeping pressure on prices in other trading regions as global SMP markets are well integrated.

Cheddar prices firmed in Oceania in September, and remained stable in the US. 

World Wholesale Table