UFU - Ulster Farmers' Union
UFU - Ulster Farmers' Union
06/24/2022 | Press release | Distributed by Public on 06/23/2022 07:13
UFU milk price index
Friday, 24 June, 2022
Friday 24 June
UFU MPI: 48.86ppl (was 48.72ppl) - This week, GDT in New Zealand slipped by one-point-three percent and there were mixed results in Dutch dairy commodity prices. UK bulk salted and unsalted butter prices both in excess of £6,000/tonne, SMP at £3,500/tonne and with cream in or around £2.75, it is touching the record price set in September 2017 of £2.89. Any negativity fuelled by dairy traders looking at any prospect of a 'Demand burn-off' although, this is yet to happen. There's a view that the oil price will keep oil rich nations buying and closer to home consumers continue to buy dairy products despite retail price increases.
Friday 10 June
UFU MPI: 48.72ppl (was 48.33ppl) - Dairy commodity prices are on the rise again. GDT all product index in New Zealand increased by one-point-five percent this week, after five previous decreases. In the last three-week period, there have been rises for Dutch butter (up €200/tonne to €7250 - now being sold in excess of £6,000/tonne in UK) and skimmed milk powder (SMP) (food grade) up €120/tonne to €4060 and SMP (feed grade) up €160 to €3,910/tonne. UK cheddar prices are continuing to rise, mild is now £4750/tonne with mature now hitting £5000 for the first ever time.
Friday 20 May
UFU MPI: 48.33ppl (up from 48.13ppl): Despite the GDT All Product Index in New Zealand slipping two-point-eight percent to $4432, Fonterra are "optimistic" in its medium to long-term outlook. The immediate term is more problematic for Fonterra with Covid/China issues continuing. Despite this, dairy demand remains strong and milk supplies constrained globally. Dutch commodity markets saw skimmed and whey powder dropping back slightly in the last fortnight. Dutch butter is trading at €7050/tonne, £5930/tonne in the UK, which is a record price for this time of year. The price of cheddar has moved up again, mild is now at £4700, mature at £4950 and mozzarella is at £4550/tonne.
Friday 6 May
UFU MPI: 48.13ppl (was 48.73ppl) - GDT all product index fell eight-point-five percent on Tuesday. According to analysts, the fall was larger than expected but crucially in terms of outlook, it has not affected the Fonterra milk price assumptions, with its milk price forecast unchanged at $9.50 a kg of milk solids for 2021/22. Analysts expect this dip in Chinese demand to be temporary. Closer to home, despite the flush, prices remain at high levels. ZuivelNL/Dutch butter is trading at €7120/tonne and just shy of £6000 in the UK. SMP has also dipped to €4080/tonne and WMP at €5190/tonne. UK mild cheddar continues to rise though to £4650/tonne on the back huge demand, good exports and hardly any imports for January and February 2022.