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DG AGRI DASHBOARD: DAIRY PRODUCTS Last update : 28.06.2018 100 150 200 250 300 350 400 450 500 550 600 650 700 Jan 03 Jan 04 Jan 05 Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 in EUR/100 kg EU average quotations of main commodities Butter Intervention price SMP Intervention price BUTTER SMP WMP CHEDDAR World Quotations EU Prices GDT Auction EU Productions EU Trade +2.1% +1.2% +6.0% -5.0% -1.5% -9.1% -0.6% +0.2% +2.4% - 15% - 10% - 5% + 0% + 5% + 10% EU Productions (Jan-Apr 2018 compared to Jan-Apr 2017) World Productions World Trade USD/Feed/Energy Feed / Energy quotations (evolution compared to the previous 4 weeks ) Feed costs Energy costs - 4.7% - 1.8 % Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 New Zealand 155 + 3% 110 - 7% 138 + 7% 493 + 11% EU-28 67 + 1% 273 + 0% 280 + 8% 126 - 9% United States 15 + 88% 122 + 13% 260 + 27% 17 + 86% Australia 4 - 5% 54 - 5% 54 + 13% 25 + 34% Belarus 22 + 1% 61 - 2% 28 - 2% 12 + 39% Uruguay 3 + 0% 10 - 10% 2 - 57% 34 + 8% Jan-Apr 2018 compared to 2017 MAIN EXPORTING THIRD COUNTRIES BUTTER(OIL) CHEESE S.M.P. W.M.P. Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 Qty in ktons % 2018 /17 China up to M ar 31 + 30% 27 - 5% 82 + 11% 216 + 10% Algeria up to M ar 3 + 6% 6 - 6% 55 + 32% 78 - 11% Mexico up to M ar 6 - 62% 31 - 3% 84 + 12% 1 +++ Russia up to M ar 14 - 47% 62 + 15% 21 - 30% 6 - 58% Japan 3 + 150% 93 + 7% 19 + 73% 0 - 29% United States 14 - 5% 52 - 9% 0 + 59% 2 - 68% BUTTER(OIL) CHEESE S.M.P. W.M.P. Jan-Apr 2018 compared to 2017 MAIN IMPORTING THIRD COUNTRIES 11 000 12 000 13 000 14 000 15 000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1000 Tonnes EU - Cows' milk collected 2015 2016 2017 2018 Jan-Apr 2018/17 : + 2.1% Sources : EUROSTAT, Reg. (EU) 2017/1185, Clal.it, USDA, Lto.nl, Nasdaq, European Central Bank, Dairyaustralia, Dcanz, Global Trade Atlas, 500 600 700 800 900 1 000 1 100 1 200 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun in 1000 tonnes Australian milk production 2014/15 2015/16 2016/17 2017/18 Jul-Apr 2017/18 compared to 2016/17 : + 3.5% 0 500 1000 1500 2000 2500 3000 3500 Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May in 1000 tonnes NZ milk production 2014/15 2015/16 2016/17 2017/18 Jun-Apr 2017/18 compared to 2016/17 : - 0.1% 7000 7250 7500 7750 8000 8250 8500 8750 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec in 1000 tonnes U.S. milk production 2015 2016 2017 2018 Jan-Apr 2018 compared to 2017 : + 1.3% 20 25 30 35 40 45 50 Jan 01 Jan 02 Jan 03 Jan 04 Jan 05 Jan 06 Jan 07 Jan 08 Jan 09 Jan 10 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 Jan 16 Jan 17 Jan 18 EUR/100 kg Weighted EU Average (real fat content) EU Milk Equiv. Price (based on SMP and Butter prices) * : provisional figures EU Raw Milk Prices Evolution (up to May 2018*) 32.4 35.7 20 25 30 35 40 45 50 55 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC EUR/100 kg WEEKLY Milk Spot Prices - IT, Lodi - 2015 2016 2017 2018 39.5 € (24 Jun) 10 20 30 40 50 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC EUR/100 kg WEEKLY Milk Spot Prices - NL - 2015 2016 2017 2018 37.0 € (24 Jun) 20 40 60 80 100 120 Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Last update : 24.06.18 OIL : Europe Brent Spot Price (USD/Barrel) 74.87 0 25 50 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 EUR/100 kg US Milk (class III adj 4.2% fat) NZ Milk - (Fonterra, adj 4.2% fat & 3.35% prot) EU Raw Milk price Source : 31.1 32.6 30.1 US, NZ and EU milk prices up to April 2018 1.00 1.10 1.20 1.30 1.40 Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan Apr Jul Oct Jan EUR / USD Exchange Rate 1.161 La s t Update : 28.06.18 EU Oceania USA EU Oceania USA Butter 6 742 5 688 5 212 - 1.1% - 0.4% - 1.6% SMP 1 782 2 063 1 735 + 1.4% - 4.6% - 5.6% WMP 3 318 3 200 3 505 + 1.0% - 1.9% + 1.0% Cheddar 3 899 3 925 3 571 + 0.1% - 2.8% + 0.7% Price in USD/Tonne on 24.06.2018 % change (15 days ago) LATEST WORLD QUOTATIONS in Tonnes 2016 2017 2018 in Tonnes 2016 2017 2018 Extra-EU 62 310 49 825 49 604 - 0% Extra-EU 253 930 272 799 273 024 + 0% USA 5 153 8 105 7 805 - 4% USA 43 406 42 905 38 477 - 10% Saudi Arabia 7 657 3 543 4 635 + 31% Japan 22 594 31 560 30 756 - 3% Singapore 2 584 1 959 2 984 + 52% Switzerland 18 137 19 342 20 237 + 5% in Tonnes 2016 2017 2018 in Tonnes 2016 2017 2018 Extra-EU 230 523 259 404 279 713 + 8% Extra-EU 130 977 138 694 125 635 - 9% Algeria 32 613 37 240 56 974 + 53% Oman 18 857 14 190 23 232 + 64% Egypt 19 870 12 471 20 589 + 65% Algeria 8 049 25 591 10 255 - 60% China 19 794 28 100 20 174 - 28% China 6 222 7 912 7 231 - 9% W.M.P. EU Exports - Top 3 destinations in 2018 Period : January-April BUTTER CHEESE S.M.P. 32.6 Raw Milk €/100 kg EU Price Evolution since - 2.7% 574 BUTTER €/100 kg - 1.0% 153 S.M.P. €/100 kg + 1.8% 283 W.M.P. €/100 kg + 0.9% 336 CHEDDAR €/100 kg + 0.5% Compared to the previous 4 weeks EU Prices (week 25) (week 25) Apr-2018 Average price (USD/MT, FAS) Anhydrous Milk Fat -2.5% $ 6 060 Butter +0.8% $ 5 611 Butter Milk Powder n/r n/a Cheddar -3.6% $ 3 847 Lactose +8.2% $ 769 Rennet Casein -2.2% $ 4 898 Skim Milk Powder -1.1% $ 2 003 Event 214 19 June 2018 -1.2% $ 3 481 Anhydrous Milk Fat -2.5% $ 6 060 Butter +0.8% $ 5 611 Butter Milk Powder n/r n/a Cheddar -3.6% $ 3 847 Lactose +8.2% $ 769 Rennet Casein -2.2% $ 4 898 Skim Milk Powder -1.1% $ 2 003 Whole Milk Powder -1.0% $ 3 189 Event 214 19 June 2018 -1.2% $ 3 481 - + 7% + 73% - + 2% + 3% - - 14% 1 87 11 0 18 5 1 27 3 93 19 0 18 5 1 23 0 50 100 BUTTER + OIL CHEESE S.M.P. W.M.P. WHEYPOWDER CASEIN(ATE)S CONDENSED LACTOSE Qty in '000 tonnes 2017 2018 9 31 8 5 24 29 48 34 27 32 11 7 22 32 36 28 0 100 % of EU JAPAN IMPORTS (Jan-Apr 2018 compared to 2017)
