Summary of the week 30
Most manufacturers say they are sold out and contracted for August and early September. No excessive interest in Euro blocks at the moment. Price adjusted (downwards). The producers keep up with the old price levels, but buyers bid already 10 cents lower. Here and there spot transactions happen. Even though, the amount of product sold is lower than this time last year.
Low interest in butter blocks. We still have a large disproportion between the price of cream and the price of butter. We expect buyers to return from their holidays within a week and start some shopping for the Q4. Butter cubes are at the level of 3.50 EUR/kg which is a bit higher than in the previous week. The demand is quite good and retailers are active.
The scorching heat in Europe influences the supply of raw material. Milk was sold out last week way quicker, than in the previous months. Not only skimmed milk but also skimmed milk concentrate are on the decline. It surely is contributed to the lower interest in SMP. As for the cream, the price firmed up, but the level is still very stable.
There is less interest in powders, although due to higher lactose quotations on GDT, we received a lot of inquiries about permeate and lactose. We expect the price to be stable on these products, with the possibility of a slight increase once all buyers return from the beach. The demand for SMP has decreased. There are not many buyers eager to purchase SWP.