Insight Focus
- New Zealand and US skim milk powder prices fall, Europe’s rise.
- Demand for US butter grows.
- US, European whey powder prices fall.
The pullback in European dairy prices was largely due to bearish expectations of future consumption growth in the face of economic contraction. High production costs will leave little room for a pullback in dairy prices in Western Europe.
New Zealand
- Skim milk powder prices at the latest auction bucked the downward trend, but futures fell.
USA
- US butter prices supported by demand growing significantly.
Europe
- Butter and skim milk powder prices fell slightly in Europe. However, whey powder was showing signs of a rebound.
Other Insights That May Be of Interest…
Food Supply Chain Key Factor in Inflation Surge
Russian Food Self-Sufficiency: Reality or a Potemkin Village?
