Tuesday, 31 March 2020
By Chris Gooderham
Our latest UK wholesale report covers the period 1 to 27 March, and includes spot trade after the closure of UK eating-out establishments (from 21 March).
The massive increase in retail sales, and loss of foodservice markets had differing impacts on dairy wholesale prices.
- Butter prices generally weakened through the month, with buyers stepping back due to uncertainty over future demand.
- Cream held up well initially but fell later in the month as milk production increased.
- SMP saw the biggest drop in the month, due to the backlog of exports into China and expectation of increased supplies.
- Mild cheddar prices increased. Tight supplies and a spike in retail sales helped offset the loss of foodservice sales.
Due to the rapidly changing trading landscape brought about by the coronavirus outbreak we will be providing weekly wholesale market updates until further notice.
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