Summary of the week 34
SMP seems to get more attractive for both export destinations and end-users. It led to consolidation and more often, growth of the price in Europe.
Whey powder also build-up, as there is less cheese produced and in consequence, less whey concentrate available. We forecast that it might stay at the same level or go up, but surely won’t go down.
FCMP also enjoys attention – buyers are back in offices ready to do some shopping. However, it has not been reflected in the price yet.
Last week we saw an increased interest in cheese which resulted in a price hike. It can be contributed to the fact that less cheese is being produced.
In general, euro blocks of Gouda and Edam, as well as Cagliata, are higher-priced, yet buyers are not ready to agree with the bid for the latter. The next weeks are not likely to bring a shift in this upward trend. Despite the fact that, the Spanish intake for sliced cheese diminished, there are more inquires from Italy.
After recent price surges in butter, last week was rather calm. The fresh product can be pretty expensive, but most producers are looking for a bargain which is not an easy job.
Nevertheless, what is worth remembering is that the PSA is still quite full.
The price of cream has slowed down its climb. There were only a few who were willing to pay the current prices. Most buyers wanted to go back to those from previous weeks.
Still, the butter and cream levels do not match and it’s the highest time, that one of those yield. Now, either the butter is undervalued, or the cream is simply too expensive.
Due to the weather conditions, we saw some influx of raw material and thus there is some more skimmed and whole milk on the market. It may lead to stabilization or decline in price. SMC keeps on holding high, but there were some quantities at better rates.