Dairy Summary: Prices Down on 201120 November 2012
GLOBAL - The weekly dairy report (week ending 16 November), published by the Irish Food Board, shows product prices are down this time last year with Butter prices being particularly low with the US being the exception to the rule.
Bulk Butter prices are down on last year in the Netherlands (-9.3 per cent), France (9.2 per cent), Germany (-15.2 per cent) and Oceania (-15.6 per cent) although remian largely unchanged from the previous week. The United States bucks the trend with Bulk Butter up 8.6 per cent on last year.
The UK markets were reported as largely stable with English Cheddar and Irish Cheddar unchanged on last week. Irish Cheddar was down 3.8 per cent on last year however.
Low throughout most of 2012, Whole Milk Powder prices in the US are beginning to reach levels seen last year. Troughing at 3,090 $/tonne in May the price has steadily risen through the summer but has recently stabilised in recent weeks.