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The indicative price of milk is falling — a review of the world dairy market in July from IFCN


Prices for exchange-traded dairy products in July showed a decline, reports Volodymyr Andriets, according to IFCN.

Prices for butter — minus 4.1% (due to falling Chinese demand), skimmed milk powder — minus 6.8% (production generally exceeds demand, except in the Asian region), whole milk powder — minus 3.1% (due to growth number of stocks). As a result, the combined indicative price of milk taken into account in the IFCN calculations continued to decline and in July amounted to 42.7 dollars / 100 kg in terms of milk (fat 4%, protein — 3.3% dry matter).

The indicative price of feed still remains at high levels — 32.2 dollars / 100 kg. Currently, there is a gradual decline in feed prices, but on the other hand, adverse weather conditions in major exporting countries (hot weather on one continental part, and rainy on the other) are considered a negative factor. It is expected that the average feed price this year will be higher than in 2020. In general, weather conditions in the near future will have a decisive impact on both milk production and feed prices, which will put pressure on production margins.

Nevertheless, world milk production in the first half of the year showed a significant increase, and only in July it slowed to + 1.5%. The lion's share of growth in milk production belongs to producers in the United States (+ 3.8%) and New Zealand — + 3.7%. European producers have a total of only + 0.4%.

«The Ukrainian dairy market continues to move downwards. The household sector plays a key role in this. In general, in the first half of the year the number of cows decreased by 5.8%, milk production — by 5.6%, milk supply for processing — by 11.8%, compared to last year. The weighted average price of three varieties of milk over the past few weeks has increased by an average of 19 kopecks and is 9.95 UAH / kg, «- said Volodymyr Andriets.

Source: AMP according to IFCN

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