He EU Milk Market Observatory Quotes of the week in the European Union were released this Thursday, continuing the downward trend of recent weeks:
-Butter: €442/100 kg, -2.2% over last four weeks
Skimmed Milk Powder (SMP) €227/100 kg, -0.7%,,
-Whole milk powder (WMP): €325/100 kg, -3.4%,,
-cheddar cheese: €357 /100 kg -0.1%
As for spot milk prices in Italy, they continued to rise this week and are currently at €0.515 per kg. In Spain it is currently 0.50 euros per litre.
Average prices in July were 0.32 euros per liter in the US and 0.29 in New Zealand
As for the average price of milk paid to farms, the EU averaged €0.437 per liter in July, compared with €0.32 per liter in the US and €0.29 per liter in New Zealand.
This caused EU dairy products to lose competitiveness in the international market. In fact, on price it is now very competitive with New Zealand butter, milk powder and US cheese.
According to the latest quotes from the Global Dairy Trade (GDT), the main international milk auction run by New Zealand cooperative Fonterra concluded its auction this week with a 2.7% increase in dairy prices. Thus, whole milk powder – its main export product – increased by 5.3% and depreciated by 1.6% compared to the last auction. Butter prices rose 1.1%.
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