Milk market: trend reversal? Market analysis from 9.2.2024

Thu, 02/08/2024 - 15:07
Dairy Market Report-9-2-24, Milch-Markt Bericht 9-2-24

Milk fat, skimmed milk powder, spot milk price rising; protein concentrates slightly rising, cheese falling.

Dariy Market Report 9-2-24 / Milchmarkt-Analyse vom 9-2-24

We have two opposing trends, rising prices for milk fat, skimmed milk powder, spot milk prices and protein concentrates, falling prices for cheese.

 And in Switzerland?

In Switzerland, sales problems are increasing, exacerbated by the financial problems of various producers and the continuing strength of the Swiss franc. We can only hope that prices in Europe will remain stable or even rise.

The question: turnaround?

The pressure on cheese prices from the north is still strong, but the latest price increases for milk fat and skimmed milk powder give cause for hope. The volume of milk in the coming weeks and the Easter business will be decisive. Ramadan runs from 11.3 to 10.4, so demand for milk powder is expected to be weak.

Our forecast for Q2:

Farmer protests have intensified, and we cannot imagine milk prices falling. The Kiel commodity value as of January 2024 is € 0.02 lower than in January 2023 and in view of the farmers' protests it must rise again. We believe in the positive trend and the effect of the protests and expect prices to rise slightly in Q2 and Q3.

We will be present at the following trade fairs:

  • Salon du Fromage, Paris, 25-27 February 2024, with our own stand
  • Cibus Parma, 7-10 May 2024
  • PLMA, Amsterdam, 28 & 29 May 2024
  • Summer Fancy Food, New York, 23-24 June 2024, with our partner World's Best Cheese
  • International Cheese Award, 27 June 2024
  • Sial, Paris, 19-23 October 2024, with our own stand
  • Marca Bologna, 15-16 January 2025
  • Winter Fancy Food Show, Las Vegas, 19-21 January 2024, with our partner World's Best Cheese
  • Sirha Lyon, 23-27 January 2024

Best regards,

Affineur Walo