While cheddar had no change at €296/100kg, butter prices made a small increase to €284/100kg (+0.6%), skimmed milk powder (SMP) increased to €172/100kg (+0.7%) and whole milk powder (WMP) prices gained 3.8% to €220/100kg.
World quotations have also made gains. Data from the European Commission shows there is a big gap between US quotations and Oceania quotations as at September 9.
Butter prices in the US are up 3.8% on a fortnight ago to US$5305/tonne. This is substantially above Oceania quotes for butter which are at $2825/t.
SMP quotes are highest in the EU at US$1904/t and lowest in Oceania at $1788/t. Oceania SMP prices have increased 14.4% over the past fortnight while US prices moved +7.1% and EU prices moved -0.7%.
WMP is being quoted highest in the US at US$2535/t and lowest in Oceania at US$2025/t. Little change has been seen in US and EU WMP prices over the past fortnight but Oceania prices have increased 9.5%.
The US was fetching the highest prices for cheddar at US$3781/t with prices in Oceania being the lowest quoted at US$3000/t. The US was the only region to see increases in the price of cheddar over the past fortnight with a 6.5% gain.
As at September 6, the spot milk price in the Netherlands increased to €27/100kg and in Italy slipped to €35/100kg.
The feed and energy cost indexes continued the descent with feed costs down 6.4% and energy costs down 7.3%.
Milk production data for July shows milk output for New Zealand was 13.2% greater than a year earlier when measured on a milksolids content basis.
