World Wholesale Report

Published 9 January 18

The downward trend in dairy markets continued across all key global markets in December. With the exception of butter, prices were at lower levels than a year earlier. Rising milk production across the globe appears to be putting pressure on product prices, and while butter prices are declining, they remain relatively high.

EU butter prices, which are being propped up by strong domestic demand, are still at uncompetitive levels on the global market. This is impacting on exports, with exports of butter & butteroil down by 19% in 2017 (to Oct) compared to the same period in 2016.

Milk powder prices fell across the board, with EU intervention stocks of SMP continuing to drag down the market. It is reported that most buyers are well stocked, keeping pressure on WMP prices in most markets.

Cheddar prices fell in both the US and Oceania, driven by increased cheese production in Australia and higher availability of milk supplies.

World Wholesale Table