Dairy Market: When will cheese prices rise? Market Analysis from April 19, 2024
Cheese, protein concentrates, feed costs, and skim milk powder stable, while milk fat and spot milk price decline.
The war in the Middle East has not affected the prices of dairy markets so far.
The spot milk price is increasingly under pressure, and milk fat remains very volatile. Considering the current spot milk prices at €0.33 and the payout prices at €0.46, some dairies in Europe may be forced to accept substantial losses.
And in Switzerland?
The Swiss Franc has strengthened again, which negatively affects milk prices. Milk volumes continue to rise, and the sale of raw milk is becoming more challenging.
Regarding the question: When will cheese prices rise:
Despite the sharp increase in milk volumes, the cheese market has been moving sideways for several weeks, even months, and cheese stockpiles are not overflowing. This indicates that as soon as the milk volume starts to decline around the second half of May, prices are likely to begin to rise gradually.
Our forecast for Q2 and Q3:
Short-term price actions might occur in the coming weeks, but we expect a firm market by the end of May at the latest.
We will be showcasing at the following expos:
• Cibus Parma, from 7 to 10 May 2024
• PLMA Amsterdam, on 28 and 29 May 2024
• Summer Fancy Food New York, from 23 to 24 June 2024, in partnership with World's Best Cheese
• International Cheese Award, on 27 June 2024
• Sial Paris, from 19 to 23 October 2024, where we'll have our own booth
• Marca Bologna, from 15 to 16 January 2025
• Winter Fancy Food Show Las Vegas, from 19 to 21 January 2025, along with World's Best Cheese
• Sirha Lyon, from 23 to 27 January 2025
• Le Mondial du Fromage et des Produits Laitiers in Tours (France), from 14 to 16 September 2025
Best Wishes, Affineur Walo
