In its latest Trends, Idele returns to the opposite trajectories of butter prices in the major dairy areas in recent weeks: in decline in the United States and New Zealand, still in decline. clear increase in Europe.
Between September and October, they fell by €250 in Oceania, to €5,900/t, which remains 22% above their October 2023 level. In North America, the decline reached €600 on a month, at €5,400/t (-23%/2023), notably linked to high inventory levels in the United States.
Note that the latest auctions recorded in New Zealand show prices increasing in mid-November.
In Europe, prices rose by €250 over one month, peaking in October at €7,780/t, or 65% more than a year earlier! An increase which is explained by availability which remains limited and a “relatively sustained” demand, especially since “the presence of MHE and FCO epizootics pushes certain operators to make purchases.”
After a slight increase during the summer, price of skimmed milk powder stabilize. In October, they oscillated between €2,510/t in New Zealand (+1% year-on-year) and €2,740/t in the United States (+10%), and reached €2,520/t in Europe (+ 1%). Idele notes signs of recovery in November.
The technical institute also emphasizes that the price of milk per productionn were trending upwards in September in the major production areas, with
- €521/1,000 liters in the United States (+ €35 in one month and + €75 over one year);
- €478/1,000 liters in France (+ €15 in one month and + €12 over one year);
- €395/1,000 liters in New Zealand (+ €6 in one month and + €80 over one year)
A trend which could be reversed in the coming months, linked to the decline in the prices of certain dairy ingredients.
