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A flash in the pan or a trend reversal? Market report from 15.9.23

Market Report-15-9-23, Marktbericht 15-9-23

Cheese, spot milk price, skimmed milk powder rising, protein concentrates still falling, milk fat falling.

Market Report-15-9-23, Marktbericht 15-9-23

We have two opposing trends now in Asia there is too much milk and prices are falling. In Europe there is a shortage of milk and, especially in cheese, not all contracts can be fulfilled, so prices are rising accordingly. With the increasing cheese production, milk fat for Christmas is becoming scarce.

We are now also recording the feed costs for dairy cows; these were also stable.

And in Switzerland?

Cheese exports at the end of July continued to decline with -6.25 and skimmed milk powder production increased with +13%. One Swiss dairy seems to have major problems at the moment and is throwing cheese on the market at incredibly low prices.

To the question: Flash in the pan or trend reversal?

The fundamentals are still negative. Too much milk in Asia/Oceania and recession in Europe means that this is more of a flash in the pan than a turnaround.

Our forecast for Q4:

We expect falling prices.

We are present at the following trade fairs:

- Anuga, Cologne 7 - 11 October 2023 (as co-exhibitor with Dicke Food).

- Marca Bologna 16, 17, January 2023

- Salon du Fromage, Paris 25- 27-2-2024, with our own stand

- Cibus Parma 7 - 10 May 2024

- PLMA, Amsterdam 28- 29 May 2024

- Sial, Paris 19- 23 October 2024, with own stand

Kind regards, Affineur Walo