Colors reflect world market price movements in the week prior to publishing. Grey is 'no change' and in case of a white block, there is no information about price movements.
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Protein boom triggers some interesting price and value dynamics in dairyland
The longer-term price graph of Western European dairy commodity prices in this issue of the Interfood Market Watch clearly reflects the unique situation that the global dairy market is currently in. For several years it was the fat side of the dairy market that dominated the milk value generated by dairy manufacturers the world over. Right now, however – with global supply still being quite strong in all key export regions – fat-heavy products like cheese and butter are becoming less relevant in relative terms while protein prices account for a growing part of the value of an average kilogram of milk. This makes the dairy landscape quite unpredictable these days. And from a geographic point of view also somewhat disconnected. Although it cannot be denied that while most of the protein boom centers around the US market, other protein markets are clearly being affected as well. For us – writers of the Interfood Market Watch – it creates a wealth of interesting developments to identify and address. For our readers we can only assume that the market may appear increasingly erratic and should best be faced with a mindset that is free of old dairy dogmas.
Exchange rates used in this document: Mar EUR 1 = USD 1.162; Apr EUR 1 = USD 1.169; Feb EUR 1 = USD 1.175