Milk and milk products

DG AGRI DASHBOARD: DAIRY PRODUCTS
EU average quotations of main commodities
50
42.5 € (18 Dec)
45
45
40
DEC
+ 4.0%
+ 3.7%
3 738
3 816
+ 1.4%
+ 3.5%
- 8.7%
0
(USD/Barrel)
1.40
Jan 17
Evolution ( 4 last weeks )
100
1.30
Jan 16
Jan 15
Jan 14
Feed / Energy quotations
120
La s t update : 18.12.16
La s t Update : 21.12.16
Jan 13
Jan 12
Jan 11
Jan 10
NOV
DEC
SEP
OCT
AUG
JUL
JUN
MAY
APR
MAR
FEB
JAN
10
Jan 09
Jan 17
Jan 16
Jan 15
Jan 14
Jan 13
Jan 12
Jan 11
Jan 10
Jan 09
Jan 08
Jan 07
Jan 06
150
OIL : Europe Brent Spot Price
EUR / USD Exchange Rate
(week 50)
80
1.20
53.99 60
1.10
1.0364
Feed costs
+ 1.3 %
Energy
costs
+ 8.5 %
40
1.00
20
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
- 0.8%
USD/Feed/Energy
3 086
2017
3 275
2016
3 091
2015
WMP
20
US Mil k (class III adj 4.2% fat)
NZ Mi lk - (Fonter ra, adj 4.2% fat & 3.35% prot)
EU Raw Mil k price
2014
+ 8.1%
2013
+ 2.8%
nc
2012
+ 6.1%
+ 1.9%
2011
+ 1.9%
2 151
2010
4 613
2 363
2009
4 363
2 145
2008
4 490
SMP
3 504
Jan 05
Jan 04
Jan 03
Jan 02
USA
2007
Oceania
2006
EU
2005
USA
40
33.7
32.3
30
30.6
Butter
Cheddar
50
% change
(15 days ago)
2004
Oceania
The latest EU Raw Milk Price (Nov 2016) is still provisional
2003
EU
200
10
U.S. and New Zealand Milk Prices Evolution
LATEST WORLD QUOTATIONS
Price in USD/Tonne
on 11.12.2016
20
EUR/100 kg
€/100 kg
35.0 € (18 Dec)30
20
Weighted EU Average (real fat content)
EU Milk Equiv. Price (based on SMP and Butter prices)
2001
World Quotations
+ 1.1%
2002
332
CHEDDAR
+ 4.5%
€/100 kg
Jan 01
310
250
40
Jan 08
SEP
OCT
JUL
AUG
JUN
MAY
NOV
50
* : provisional figures
W.M.P.
350
300
WEEKLY Milk Spot Prices
- NL -
Jan 05
25
400
EUR/100 kg
+ 3.2%
2013
2014
2015
2016
Jan 03
€/100 kg
30.6
30
450
20
M…
- 0.2%
i n EUR/100 kg
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
206
S.M.P.
34.1 35
APR
419
BUTTER
€/100 kg
25
FEB
(week 50)
30
40
Compared to the average
of the previous 4 weeks
JAN
EU Prices
35
EU Prices
Butter Intervention price
SMP Intervention price
BUTTER
SMP
WMP
CHEDDAR
Jan 07
EUR/100 kg
+ 7.3%
€/100 kg
2-WEEKLY Milk Spot Prices
55
- IT, Lodi -
Jan 06
50
Jan 04
29.8
Raw Milk
2013
2014
2015
2016
EU Raw Milk Prices Evolution (up to November 2016*)
Evolution since
last month
Oct-2016
EUR/100 kg
EU Price
Last update : 22.12.2016
Period : January - October
Extra-EU
Saudi Arabia
USA
Egypt
in Tonnes
Extra-EU
Algeria
2016
in Tonnes
2016
100 836
108 977 143 010
+ 31%
Extra-EU 607 666 589 120 666 239
7 256
11 439 17 023
+ 49%
USA
7 108
2 362
2014
529 356
114 296
14 948 15 408
9 893 12 087
S.M.P.
2015
+ 3%
+ 22%
2016
578 738 478 474
96 826 72 060
Japan
Switzerland
in Tonnes
- 17%
- 26%
97 930 115 798 117 130
39 045 56 792 64 714
44 619 45 352 47 257
2014
+ 13%
+ 1%
+ 14%
+ 4%
W.M.P.
2015 2016
Extra-EU 332 061 339 884 328 093
Oman
40 103 49 944 43 993
- 3%
- 12%
Indonesia
40 713
39 153 39 936
+ 2%
Algeria
61 290 29 318 27 413
- 6%
China
57 459
42 451 39 304
- 7%
China
7 038 15 570 17 015
+ 9%
CHEESE
+ 29%
173
161
S.M.P.
- 7%
300
355
355
410
W.M.P.
WHEYPOWDER
16
18
9
16
CASEIN(ATE)S
CONDENSED
2016
0
200
400
New Zealand
+ 18%
United States
39
34
33
27
+ 15%
+ 70%
72
93
14
22
- 2%
0
Sources : EUROSTAT, Reg. (EU) 479/2010, Clal.it, USDA, Lto.nl, Nasdaq, European Central Bank, Dairyaustralia, Dcanz, Global Trade Atlas,
up to
Sep
EU-28
1
2
+ 11%
2015
75
73
LACTOSE
10
10
13
15
22
23
+ 24%
100
2000
Qty in
ktons
%
2016
/15
CHEESE
Qty in
ktons
Qty in
ktons
8250
in 1000
tonnes
8000
7750
1000
500
Dec
Oct
Nov
Sep
Aug
Jul
Jun
May
Mar
Jan
Feb
Apr
7000
May
Apr
Feb
Mar
Jan
Dec
Oct
Nov
Sep
Jul
Aug
Jun
7250
MAIN IMPORTING THIRD COUNTRIES
W.M.P.
%
2016
/15
7500
2013
2014
2015
2016
0
S.M.P.
%
2016
/15
8500
1500
2013/14
2014/15
2015/16
2016/17
Jun
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
56
69
61
78
BUTTER + OIL
900
500
Jan-Oct 2016
compared to 2015
% of EU
Qty in '000 tonnes
World Trade
EU Trade
in Tonnes
CHEESE
2014 2015
2500
600
BUTTER(OIL)
Jan-Nov 2016 compared to 2015 : + 1.8%
3000
1 000
MAIN EXPORTING THIRD COUNTRIES
CHINA IMPORTS (Jan-Oct 2016 compared to 2015)
EU Exports - Top 3 destinations in 2016
BUTTER
2014 2015
Apr
Mar
Feb
Jan
10 000
in 1000
tonnes
700
May
Jan-Oct 2016/15 : + 1.2%
Apr
11 000
Mar
- 20%
U.S. milk production
800
2013/14
2014/15
2015/16
2016/17
Jan
-11.8%
Feb
- 10%
12 000
Dec
-0.1%
-0.5%
13 000
Oct
+ 0%
NZ milk production
Jun-Nov 2016/17 compared to 2015/16 : - 3.0%
3500
1 100
in 1000
tonnes
Nov
+2.9% +1.7%
Sep
+4.1% +5.9% +5.2%
Aug
+1.2%
Qty in
ktons
Jan-Oct 2016
compared to 2015
%
2016
/15
BUTTER(OIL)
Qty in
ktons
%
2016
/15
CHEESE
Qty in
ktons
%
2016
/15
S.M.P.
Qty in
ktons
W.M.P.
%
2016
/15
Qty in
ktons
%
2016
/15
347
+ 3%
251
+ 9%
303
+ 15%
885
- 4%
China
69
+ 24%
78
+ 29%
161
- 7%
355
+ 18%
195
+ 32%
666
+ 13%
478
- 17%
328
- 3%
Russia
up to
Sep
70
- 2%
165
+ 11%
104
+ 30%
32
+ 33%
23
+ 10%
235
- 13%
466
- 1%
54
+ 63%
Mexico
up to
Sep
37
+ 42%
90
+ 2%
209
+ 17%
10
+ 81%
Belarus
up to
Sep
58
+ 8%
153
+ 14%
84
- 10%
23
- 18%
Algeria
11
+ 17%
30
+ 9%
93
- 25%
183
- 8%
Australia
up to
Sep
23
- 7%
121
- 2%
114
- 21%
51
+ 8%
Japan
10
- 38%
212
+ 3%
29
- 39%
0
+ 34%
10
- 41%
30
+ 37%
15
- 32%
112
+ 43%
United States
41
+ 28%
165
+ 5%
1
- 73%
14
+ 48%
Uruguay
GDT
Auction
+ 10%
Australian milk production
Jul-Oct 2016/17 compared to 2015/16 : - 10.3%
1 200
Jul
2013
2014
2015
2016
World Productions
EU - Cows' milk collected
14 000
1000 Tonnes
EU Productions
Source :
EU Productions (Jan-Oct 2016 compared to Jan-Oct 2015)
Event 178
Anhydrous
Milk Fat
Butter
20 December 2016
-0.5% 
Average price (USD/MT, FAS)
$ 3 656
$ 5 367
+0.5%
$ 4 290
Butter Milk
Powder
Cheddar
Lactose
Rennet Casein
Skim Milk
Powder
Whole Milk
Powder
+3.1%
+1.9%
-1.6%
+3.3%
+0.0%
-0.8%
$ 2 874
$ 3 826
$ 857
$ 6 473
$ 2 621
$ 3 568
EU Price
Evolution since
last month
Oct-2016
29.8
EU Prices
(week 50)
€/100 kg
+ 7.3%
Compared to the average
of the previous 4 weeks
BUTTER
419
€/100 kg
- 0.2%
S.M.P.
206
€/100 kg
+ 3.2%
W.M.P.
310
€/100 kg
+ 4.5%
CHEDDAR
332
€/100 kg
+ 1.1%
Jan 01
EU Prices
Raw Milk
Next
ons
Source : DG AGRI – Reg. 479/2010 Art. 2
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EU Raw Milk Prices Evolution (up to November 2016*)
50
EUR/100 kg
45
40
34.1 35
30.6
30
25
Jan 17
Jan 16
Jan 15
Jan 14
Jan 13
Jan 12
Jan 11
Jan 10
Jan 09
Jan 08
Jan 07
Jan 06
Jan 05
Jan 04
Jan 03
Jan 02
Jan 01
* : provisional figures
20
Weighted EU Average (real fat content)
EU Milk Equiv. Price (based on SMP and Butter prices)
Source : DG AGRI – Reg. 479/2010 Art. 2
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2013
2014
2015
2016
2-WEEKLY Milk Spot Prices
55
- IT, Lodi -
40
35
30
50
40
EUR/100 kg
50
42.5 € (18 Dec)
45
WEEKLY Milk Spot Prices
- NL -
35.0 € (18 Dec)30
20
10
DEC
NOV
OCT
SEP
AUG
JUL
JUN
MAY
APR
MAR
FEB
JAN
DEC
NOV
OCT
SEP
AUG
JUL
JUN
MAY
20
APR
M…
FEB
JAN
25
EUR/100 kg
2013
2014
2015
2016
Source : Clal.it
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EU average quotations of main commodities
Butter Intervention price
SMP Intervention price
BUTTER
SMP
WMP
CHEDDAR
i n EUR/100 kg
450
400
350
300
250
200
Jan 17
Jan 16
Jan 15
Jan 14
Jan 13
Jan 12
Jan 11
Jan 10
Jan 09
Jan 08
Jan 07
Jan 06
Jan 05
Source : DG AGRI – Reg. 479/2010 Art. 2
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Jan 04
Jan 03
150
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LATEST WORLD QUOTATIONS
Price in USD/Tonne
on 11.12.2016
% change
(15 days ago)
EU
Oceania
USA
EU
Oceania
USA
Butter
4 490
4 363
4 613
+ 1.9%
+ 6.1%
+ 2.8%
SMP
2 145
2 363
2 151
+ 1.9%
nc
+ 8.1%
WMP
3 091
3 275
3 086
- 0.8%
+ 4.0%
+ 3.7%
Cheddar
3 504
3 738
3 816
+ 1.4%
+ 3.5%
- 8.7%
Source : DG AGRI, USDA
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U.S. and New Zealand Milk Prices Evolution
The latest EU Raw Milk Price (Nov 2016) is still provisional
50
40
33.7
32.3
30
30.6
10
0
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
US Mil k (class III adj 4.2% fat)
NZ Mi lk - (Fonterra, adj 4.2% fat & 3.35% prot)
EU Raw Mil k price
EUR/100 kg
20
Source
:
Source : DG AGRI, LTO Nederland
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Feed / Energy quotations
Evolution ( 4 last weeks )
(week 50)
Feed costs
EUR / USD Exchange Rate
1.40
La s t Update : 21.12.16
+ 1.3 %
OIL : Europe Brent Spot Price
(USD/Barrel)
Energy
costs
+ 8.5 %
120
Las t update : 18.12.16
100
1.30
Sources : Feed : DG AGRI, Clal.it
Energy : DG ENERGY
80
1.20
Source : European Central Bank
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1.10
40
1.00
20
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
Apr
Jul
Oct
Jan
1.0364
53.99 60
Source : Nasdaq
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EU Productions (Jan-Oct 2016 compared to Jan-Oct 2015)
+ 10%
+1.2%
+4.1% +5.9% +5.2%
+2.9% +1.7%
+ 0%
-0.1%
-0.5%
- 10%
-11.8%
- 20%
Source : EUROSTAT
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EU - Cows' milk collected
2013
2014
2015
2016
1000 Tonnes
14 000
13 000
12 000
11 000
Jan-Oct 2016/15 : + 1.2%
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Dec
Nov
Oct
Source : EUROSTAT, Reg. (EC) No 479/2010 Art. 1(a)1
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
10 000
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Australian milk production
Jun-Nov 2016/17 compared to 2015/16 : - 3.0%
3500
in 1000
tonnes
1 100
1 000
2500
900
2000
Next
500
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Mar
May
Apr
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Aug
Jul
7250
7000
0
Jun
Jun
May
Apr
Mar
Feb
7500
2013
2014
2015
2016
1000
Apr
600
Jan
Dec
Nov
Oct
Sep
Aug
Jul
Page
8000
1500
2013/14
2014/15
2015/16
2016/17
500
Previous
8250
in 1000
tonnes
7750
700
Source : Dairyaustralia, Dcanz, USDA
8500
3000
800
2013/14
2014/15
2015/16
2016/17
Jan-Nov 2016 compared to 2015 : + 1.8%
Feb
in 1000
tonnes
U.S. milk production
Jan
Jul-Oct 2016/17 compared to 2015/16 : - 10.3%
1 200
NZ milk production
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EU Exports - Top 3 destinations in 2016
Period : January - October
in Tonnes
Extra-EU
BUTTER
2014
2015
100 836
2016
108 977 143 010
in Tonnes
+ 31%
Extra-EU
Saudi Arabia
7 256
11 439
17 023
+ 49%
USA
7 108
14 948
15 408
+ 3%
Egypt
2 362
9 893
12 087
+ 22%
in Tonnes
S.M.P.
2014
2015
Extra-EU
529 356
Algeria
114 296
96 826
Indonesia
40 713
China
57 459
2016
CHEESE
2014 2015
2016
607 666 589 120 666 239
+ 13%
USA
97 930 115 798 117 130
+ 1%
Japan
39 045
56 792
64 714
+ 14%
Switzerland
44 619
45 352
47 257
+ 4%
in Tonnes
W.M.P.
2014 2015
2016
- 17%
Extra-EU
72 060
- 26%
Oman
40 103
49 944
43 993
- 12%
39 153
39 936
+ 2%
Algeria
61 290
29 318
27 413
- 6%
42 451
39 304
- 7%
China
7 038
15 570
17 015
+ 9%
578 738 478 474
332 061 339 884 328 093
- 3%
Source : EUROSTAT
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CHINA IMPORTS (Jan-Oct 2016 compared to 2015)
% of EU
Qty in '000 tonnes
56
69
61
78
BUTTER + OIL
CHEESE
+ 29%
173
161
S.M.P.
WHEYPOWDER
16
18
9
16
CONDENSED
Source : GTA
Previous
Next
0
1
2
+ 18%
39
34
33
27
+ 15%
+ 11%
2015
2016
75
73
LACTOSE
Page
- 7%
300
355
355
410
W.M.P.
CASEIN(ATE)S
10
10
13
15
22
23
+ 24%
200
400
+ 70%
72
93
14
22
- 2%
0
100
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BUTTER +
BUTTEROIL
CHEESE
S.M.P.
W.M.P.
MAIN EXPORTING THIRD COUNTRIES
Jan-Oct 2016
compared to 2015
New Zealand
up to
Sep
EU-28
United States
BUTTER(OIL)
Qty in
ktons
%
2016
/15
CHEESE
Qty in
ktons
%
2016
/15
S.M.P.
Qty in
ktons
W.M.P.
%
2016
/15
Qty in
ktons
%
2016
/15
347
+ 3%
251
+ 9%
303
+ 15%
885
- 4%
195
+ 32%
666
+ 13%
478
- 17%
328
- 3%
23
+ 10%
235
- 13%
466
- 1%
54
+ 63%
BUTTER +
BUTTEROIL
Jan-Oct 2016
compared to 2015
Belarus
58
+ 8%
153
+ 14%
84
- 10%
23
- 18%
Australia
up to
Sep
23
- 7%
121
- 2%
114
- 21%
51
+ 8%
China
10
- 41%
30
+ 37%
15
- 32%
112
+ 43%
Russia
Mexico
Source : GTA
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S.M.P.
W.M.P.
MAIN IMPORTING THIRD COUNTRIES
up to
Sep
Uruguay
CHEESE
BUTTER(OIL)
Qty in
ktons
%
2016
/15
CHEESE
Qty in
ktons
%
2016
/15
S.M.P.
Qty in
ktons
W.M.P.
%
2016
/15
Qty in
ktons
%
2016
/15
69
+ 24%
78
+ 29%
161
- 7%
355
+ 18%
up to
Sep
70
- 2%
165
+ 11%
104
+ 30%
32
+ 33%
up to
Sep
37
+ 42%
90
+ 2%
209
+ 17%
10
+ 81%
Algeria
11
+ 17%
30
+ 9%
93
- 25%
183
- 8%
Japan
10
- 38%
212
+ 3%
29
- 39%
0
+ 34%
United States
41
+ 28%
165
+ 5%
1
- 73%
14
+ 48%
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Auction
Event 178
Anhydrous
Milk Fat
Butter
Butter Milk
Powder
Cheddar
Lactose
Rennet Casein
Skim Milk
Powder
Whole Milk
Powder
-
+0.5%
+3.1%
+1.9%
-1.6%
+3.3%
+0.0%
-0.8%
$ 2 874
$ 3 826
$ 857
$ 6 473
$ 2 621
$ 3 568
20 December 2016
-0.5% 
Average price (USD/MT, FAS)
$ 5 367
$ 4 290
$ 3 656
Source : Globaldairytrade
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