European Dairy Market: Gouda and Mozzarella Prices Rise, SMP and WPC80 Prices Fall, and Spot Market Butter Offers Are Higher [325th Edition of the Foodcom DAIRY Newsletter]

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Toward the end of October, the situation on the milk powder market began to change. SMP prices are falling after earlier increases, while WMP is becoming slightly cheaper. Butter offers on the spot market are higher, though trading remains limited. Cream is holding steady at a higher level, while skim milk concentrate has become cheaper.

In the cheese market, stronger prices are primarily seen for Gouda and Mozzarella, whose availability on the spot market is becoming increasingly limited. Cheddar prices remain strong, and Emmental has stabilized following earlier increases. WPC80 continues to decline, with lower prices reported across Europe. Prices for SWP and MPC85, however, have changed much less.

Milk Powder

Whole milk powder (WMP) is being offered in Europe in the range of 3,850–3,900 EUR/MT. Prices have fallen slightly, though the scale of the declines is significantly smaller than for SMP.

Skim milk powder (SMP) for food use costs 3,550–3,650 EUR/MT in Europe, while feed-grade SMP is priced at 3,500–3,600 EUR/MT. Broader Q4 price indications for both types range from 3,500 to 3,700 EUR/MT. After several weeks of gains, prices began to fall, and the previous upward trend has clearly weakened. SMP for feed purposes has also become cheaper, particularly for near-term deliveries.

Cheese

Gouda is being offered in Europe in the range of 3,550–3,650 EUR/MT, and Q4 indications remain at a similar level. Prices rose as availability on the spot market tightened. Some buyers are still seeking volumes for the remainder of the year. A portion of the milk that could have been used for cheese production was instead used to produce cream and SMP, which has limited the availability of Gouda for near-term delivery.

Edam is priced at 3,550–3,600 EUR/MT.

Cheddar cheese is being offered in Europe in the range of 3,800–3,900 EUR/MT, and indications for Q4 fall within the same range. Prices have changed little over the past two weeks, even though Gouda and Mozzarella have become more expensive. Cheddar availability remains relatively limited, although most buyers have already secured their needs.

Mozzarella is being offered on the European spot market in the range of 3,600–3,650 EUR/MT, while indications for Q4 are around 3,550–3,650 EUR/MT. Cheese availability is very limited, and recent transactions have been concluded above 3,600 EUR/MT. Production was lower than some buyers had expected, partly because other dairy products offered producers better profitability. Buyers who are still seeking volumes for Q4 have an increasingly limited selection of available goods.

Emmental intended for grating is being offered in Europe in the range of 3,650–3,750 EUR/MT. After rising in recent weeks, prices have stabilized. Availability on the spot market remains limited, but trading is calm, and most buyers have already secured their needs for the remainder of the year.

Fats

Butter is being offered on the European spot market in the range of 3,800–3,900 EUR/MT, while Q4 indications stand at approximately 3,850–3,950 EUR/MT. Following earlier declines, higher spot offers have emerged, though trading activity remains low. The situation in the broader market remains more stable than recent offers might suggest. For now, there are no clear signs of a strong price rebound.

Liquids

Cream is being offered in Western Europe in the range of 4,700–4,850 EUR/MT. Prices have risen in parts of the region, though differences between individual offers remain relatively large.

Raw milk on the spot market in Western Europe is priced at approximately 41–47 EUR/100 kg, depending on milk quality and local trading conditions. Prices in the region vary widely, and slight declines are visible in some markets. Milk deliveries to collection centers in Europe are generally stable or declining slightly.

Skim milk concentrate (SMC) is being offered in Western Europe in the range of 3,100–3,300 EUR/MT. Prices have fallen, and the range of current quotes remains quite wide. This is a marked change from the higher levels observed in early October.

Whey concentrate is priced at 1,500–1,600 EUR/MT. Recent quotes have centered around these levels, and there are no signs of major price changes at this time.

Whey and Proteins

Sweet whey powder (SWP) for food-grade use is offered in Europe in the range of 2,000–2,100 EUR/MT, while feed-grade material costs 1,650–1,700 EUR/MT. In Eastern Europe, prices for food-grade SWP range from 1,900 to 1,950 EUR/MT. Overall, prices have changed little. Quotations for food-grade material vary by region, and trading in feed-grade SWP remains concentrated near the upper end of the range.

WPC80 Instant is being offered in Europe in the range of 16,000–17,000 EUR/MT. In Eastern Europe, prices are around 16,000 EUR/MT. WPC80 prices remain under pressure and have fallen again. The downward trend is evident both in the broader European market and in Eastern Europe.

WPI Instant is priced at 27,000–28,000 EUR/MT in Europe.

MPC85 is being offered in Europe at around 16,000 EUR/MT. Prices have changed little recently, and the previous upward trend has slowed.

Food-grade whey permeate costs 1,050–1,100 EUR/MT in Europe. Prices remain close to recent levels, with no significant changes.

Food-grade lactose is offered in Europe in the range of 1,600–1,650 EUR/MT. Prices are holding closer to the lower end of the range. The market is showing a slight weakening, but the overall price level has not changed significantly.