Dairy markets have continued their positive trend this week, with prices for nearly all commodities lifting.
Dairy markets continue to improve as the slowdown in EU milk production registers across the globe. In Europe, average quotes for butter have risen a further 7% in the last fortnight close to $3,700/t, while cheddar prices are up more than 3% to $3,160/t.
The EU’s intervention scheme is also beginning to impact the market in a positive way. With more than 350,000t of skimmed milk powder (SMP) now in storage, the market has tightened up a little, with available stocks lighter on the ground.
As a result, SMP prices are beginning to rise slowly from intervention levels – almost …
Source: Farmers Journal