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Weekly dairy market update (11-15 May)

Friday, 15 May 2020

By Patty Clayton

Markets firmed in the past week as some demand has returned to the markets. For liquid milk, the main source continues to be at the retail level with overall sales remaining elevated. For manufactured products, sales are more varied, with demand levels mixed by product.

Demand for butter was reported to have increased in the past week, pulling up prices by about £100/tonne on average from last week. The main driver appeared to be demand from the continent, due both to the re-opening of some foodservice businesses and higher retail demand in Germany. The opening of PSA, and the relatively large volumes of butter placed into storage, may also have shifted sentiment, bringing some traders back into the market to secure product for later in the year.

Cream prices moved up on the back of more active butter demand, with prices moving up to between £1.00/kg to £1.10/kg.

Skim milk powder (SMP) prices have been quite stable in recent weeks at £1,650/tonne on average. This week, there are some reports of upward pressure coming from higher demand from traders as well as end users looking to lock in product for the second half of the year.

Spot milk prices moved up slightly through the week to range between 18-20ppl. Some parts of the country are said to be past peak production, impacting on the amount of spot milk on offer.

Patty Clayton

Lead Analyst - Dairy

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