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Market Report 10-3-23 Swiss cheese, a winning model?

Marktbericht 10-3-23, Market Report 10-3-23
Market Report-10-3-23, Martkbericht 10-3-23
Cheese Export 10-3-23; Käse-Export 10-3-23

The 4th week with stable prices.

Market Report-10-3-23, Martkbericht 10-3-23

Image removed.Lately, Swiss cheese has been in the media in a negative light. Two headlines on this: "USA refused to register Gruyere as a trademark" and "Appenzeller cheese does not come from Appenzell". One wonders, what is wrong with Swiss cheese? More on this below.

On the milk and cheese markets we see more red figures again! Especially the spot milk price of below € 0.30 makes me wonder. It seems as if the balance is tipping to the disadvantage of milk.

The average price index of the GDT auction of 7.3, fell by 0.7%, with the whole milk powder index rising slightly, while all other commodities, with the exception of lactose, fell compared to a fortnight ago. The Whole Milk Price Index rose 0.2% to an average price of US$3,277 per tonne and lactose rose 0.3% to US$1,112 per tonne. Cheddar led the declines: The index fell by 10.2% to an average price of US$4,509/t. Skimmed milk powder fell by 1.1% to $2,739/t, butterfat by 1.8% to $5,340/t and butter by 0.3% to $4,899/t. Buttermilk powder was down 4.5% from a month ago at $2,521/t. A total of 26,747 t of goods were sold - 13% less than last time.

I fear we are heading into a perfect storm. Even though it is raining now, the probability that water will be in short supply this summer is much higher than vice versa. This means feed prices will go up, at the same time milk prices will go down and it won't be worth producing any more milk. Instead of mozzarella, our pizzas will have a topping of palm oil and soybeans. "Bon Appetit"

If you want to deliver cheese this summer, you must take care of the supply of enough raw materials now.

We are offering loyal customers the opportunity to conclude indexed contracts in the next few weeks.

To the question: Swiss hceese a winning Model?

Kind regards, Affineur Walo

This market report is published monthly, we increase the frequency when markets are very volatile.