Milk Market Situation Brussels, 20 Oct 2016
EU Productions
EU Productions (Jan-Jul 2016 compared to Jan-Jul 2015) +8.7% +11.3% +2.6%
+5.6%
+2.3%
+0.3% -1.1%
-0.1%
-15.2%
!!! Data from some Member States are confidential and are NOT included in this table !!! 20 Oct 2016
+0.9
+1.3
-1.2
+2.2 +3.9
-28.0% to -21.0% -21.0% to -14.0% -14.0% to -7.0% -7.0% to +0.0% +0.0% to +7.0% +7.0% to +14.0% +14.0% to +21.0% +21.0% to +28.0% n/a
-0.9
+8.8 -2.5
+3.9
+11.5 +3.0
+3.1
+15.1
+1.0 -3.6
+2.5 +5.9
+0.1
+1.1
+5.6
-3.1
+1.8 +6.8
-3.9
+1.9
+1.7
+2.7
20 Oct 2016
Source : MS' Communications to Eurostat, FEGA, AGEA, Reg.479/2010.1(a)1
+24.4
EU - Cows' milk collected
1000 Tonnes
14000
Jan-Jul 2016/15 : +2.6%
2016
13000
2015
12000
2014
11000
2013 Jan-Jul 2016/15 : + 2.6%
10000
Jan Feb Mar Apr May Jun Source : Estat - Newcronos 20 Oct 2016
Jul
Aug Sep Oct Nov Dec Last update : Jan-Jul
Source: MS’ communications to Eurostat
EU Raw Milk Prices Evolution (up to September 2016*) * : estimated price in running month
EUR/100 kg 50 48 46 44 42 40 38 36
34 32.2 32
30 28 27.0 26 24
Weighted EU Average (real fat content)
22
EU Milk Equiv. Price (based on SMP and Butter prices)
* : provisional figures
Jan 17
Jan 16
Jan 15
Jan 14
Jan 13
Jan 12
Jan 11
Jan 10
Jan 09
Jan 08
Jan 07
Jan 06
Jan 05
Jan 04
Jan 03
Jan 02
Jan 01
20
Source : MS’ communications under reg. 562/2005 & 479/2010
20 Oct 2016
EU
MILK
PRICES
( Aug 2016 vs Aug 2015 ) 54.9
Source : Member States (Reg. 479/2010)
60 55
46.3
Milk Price 2015 50
Milk Price 2016
17.9
25 18.6
20.8
22.1
22.3
23.4
23.6
23.8
24.2
30 24.3
25.0
25.0
25.1
25.1
25.9
26.2
26.4
26.8
27.0
28.2
28.4
28.4
29.4
29.9
30.6
35
in EUR/100 kg
40
35.8
37.9
45
20
15 10
5 0
CY MT GR
20 Oct 2016
FI
IT
AT
FR HR SE
ES
IE
PT
EU DK BG BE
LU
NL
PL
DE
SI
Estimates for DK, IE, ES, SE GB RO SK CZ HU EE LV LT
NB: The above national price averages are of mixed nature, some relate to standardised milk, others to milk with real fat and protein content, pending harmonisation under reg. 479/2010
Source: MS’ communications under Reg. 479//2010
Weekly EU SMP Prices Latest price : 202 EUR/100kg
450
Evolution compared to same period last year : +12%
350
300
250
200
2013 2016
20 Oct 2016
2014 IP 2009
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
150
2015 Avg 2007-2009
Source: MS’ communications under Regs. 562/2005 and 479/2010
EUR/100 kg
400
EU S.M.P. Prices (up to 9.10.2016) 290
281
Source : Reg. (EC) No 479/2010 Article 2
270
230 212: 169.8 I.P.
208
203
210
202 193 184
190 179
170
150 LV
20 Oct 2016
DE
BE
NL
EU Avg.
CZ
IE
PL
in EUR/100 kg
250
Weekly EU BUTTER Prices Latest price : 404 EUR/100kg
450
Evolution compared to same period last year : +36%
350
300
250
200
2013
20 Oct 2016
2014
2015
2016
Source: MS’ communications under Regs. 562/2005 and 479/2010
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
150
IP 2009
EUR/100 kg
400
EU BUTTER Prices (up to 9.10.2016) 435
450 426
Source : Reg. (EC) No 479/2010 Article 2
416
411
404
395
400
391
376 349
350 309 300 273
250
I.P. = 221.75
200
150 DE
20 Oct 2016
SK
NL
BE
EU Avg.
PL
HR
CZ
GB
IE
EE
LV
EUR/100 kg
350
EU Quotations of Butter and SMP (EU average based on MS communication and weighted by production) 440 420 400
380
SMP Intervention buying in price
404
BUTTER prices SMP prices
.
360
Butter Intervention buying in price
in EUR/100 kg
340
320 300 280
260 240 220
202
200 180 160
140 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
Source: MS’ communications under reg. 562/2005 and 479/2010
20 Oct 2016
EU Dairy Quotations (EU Average Prices based on MS communication and weighted by production) 440 420
BUTTER
400
SMP
380
WMP
360
CHEDDAR
320
300 280 260
in EUR/100 kg
340
240
220 200 180 160
Jan 16
Jan 15
Jan 14
Jan 13
Jan 12
Jan 11
Jan 10
Jan 09
Jan 08
Jan 07
Jan 06
Jan 05
Jan 04
Jan 03
140
Source: MS’ communications under reg. 562/2005 and 479/2010
20 Oct 2016
Weekly EU WMP Prices Latest price : 270 EUR/100kg
450
Evolution compared to same period last year : +14%
350
300
EUR/100 kg
400
250 200
2013
20 Oct 2016
2014
2015
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
150
2016
Source: MS’ communications under Regs. 562/2005 and 479/2010
Weekly EU CHEDDAR Prices
Weekly EU EDAM Prices Latest price : 306 EUR/100kg
500
450 400
400
350
350 300
EUR/100 kg
450
300 250
250
200 Evolution compared to same period last year : +24%
Evolution compared to same period last year : +5%
150
2013
2014
2015
2016
2 013
2 014
2 015
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
200
2 016
Source: MS’ communications under Regs. 562/2005 and 479/2010
20 Oct 2016
EUR/100 kg
Latest price : 315 EUR/100kg
Weekly EU WheyPowder Prices Latest price : 94 EUR/100kg
120
Evolution compared to same period last year : +46%
110
90
80
EUR/100 kg
100
70 60
2013
2014
2015
2016
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
50
Series2
Source: MS’ communications under Regs. 562/2005 and 479/2010 20 Oct 2016
Private Storage Aid Scheme (2014-2016) - BUTTER 150 000
125 000
100 000
50 000
25 000
0
-25 000 JAN
FEB
MAR
APR
MAY
Quantities In (2016) Quantity offered (2014) Quantity offered (2015) Quantity offered (2016)
20 Oct 2016
JUN
JUL
AUG
SEP
OCT
Quantities Out (2016) Stocks level end of month (2015) Stocks level end of month (2016)
NOV
DEC
Quantity in tonnes
75 000
Private Storage Aid Scheme (2014-2016) - S.M.P. 75 000 70 000 65 000
60 000 55 000 50 000 45 000
35 000
30 000 25 000 20 000 15 000 10 000 5 000 0 -5 000 -10 000 JAN
20 Oct 2016
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
DEC
Quantities In (2016)
Quantities Out (2016)
Quantity offered (2014)
Quantity offered - max 210 days (2015)
Quantity offered - max 210 & 365 days (2015)
Stocks level end of month (2015)
Quantity offered - max 210 days (2016)
Quantity offered - max 210 & 365 days (2016)
Stocks level end of month (2016)
Quantity in tonnes
40 000
Private Storage Aid Scheme (2016) - CHEESE 60 000
50 000
30 000
20 000
10 000
0
-10 000 JAN
FEB
MAR
Quantities In (2016)
20 Oct 2016
APR
MAY
JUN
Quantities Out (2016)
JUL
AUG
SEP
Quantity offered (2016)
OCT
NOV
DEC
Stocks level end of month (2016)
Quantity in tonnes
40 000
Public SMP Intervention scheme (2015-2016) Buying-in quantity at fixed price
375 000 350 000
325 000 300 000 Cumulate quantity up to 9.10.2016 (buying-in at fixed price) : 256 026 T
275 000 250 000
200 000 175 000 150 000
125 000 100 000 75 000 50 000 25 000 0 -25 000
20 Oct 2016
Quantities In (2016)
Quantities Out (2016)
Quantity offered (2015)
Stocks level end of month (2015)
Quantity offered (2016)
Stocks level end of month (2016)
Quantity in tonnes
225 000
US Dollar USD/EUR
1.1020
20 Oct 2016
source: www.xe.com
EU/US/Oceania Quotations of SMP 6 000 Avg Oceania SMP quotation
5 500
Avg EU SMP internal Price 5 000
Avg US SMP quotation
Prices in USD/tonne
4 500
4 000
3 500
3 000
2 500
2 450
2 000
2 192 2 082
1 500 Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 Oct 2016
Sep 16
Jun 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
Jun 12
Mar 12
Dec 11
Sep 11
Jun 11
Mar 11
Dec 10
Sep 10
Jun 10
Mar 10
Dec 09
Sep 09
Jun 09
1 000
EU/US/Oceania Quotations of WMP 6 000 Avg Oceania WMP quotation 5 500
Avg EU WMP internal Price Avg US WMP quotation
Prices in USD/tonne
5 000
4 500
4 000
3 500
3 075 2 988 2 888
3 000
2 500
2 000 Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 Oct 2016
Sep 16
Jun 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
Jun 12
Mar 12
Dec 11
Sep 11
Jun 11
Mar 11
Dec 10
Sep 10
Jun 10
Mar 10
Dec 09
Sep 09
Jun 09
1 500
EU/US/Oceania Quotations of Butter 7 000 Avg Oceania Butter quotation
6 500
Avg EU Butter internal Price Avg US Butter quotation
6 000
Prices in USD/tonne
5 500 5 000 4 500 4 381 4 252 4 000
3 888
3 500 3 000 2 500 2 000 Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 Oct 2016
Sep 16
Jun 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
Jun 12
Mar 12
Dec 11
Sep 11
Jun 11
Mar 11
Dec 10
Sep 10
Jun 10
Mar 10
Dec 09
Sep 09
Jun 09
1 500
EU/US/Oceania Quotations of Cheddar 6 000 Avg OceaniaCheddar quotation 5 500
Avg EU Cheddar internal Price Avg US Cheddar quotation
Prices in USD/tonne
5 000
4 500
4 000 3 650 3 508 3 387
3 500
3 000
2 500 Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 Oct 2016
Sep 16
Jun 16
Mar 16
Dec 15
Sep 15
Jun 15
Mar 15
Dec 14
Sep 14
Jun 14
Mar 14
Dec 13
Sep 13
Jun 13
Mar 13
Dec 12
Sep 12
Jun 12
Mar 12
Dec 11
Sep 11
Jun 11
Mar 11
Dec 10
Sep 10
Jun 10
Mar 10
Dec 09
Sep 09
Jun 09
2 000
BUTTER & Butteroil Exports
EU-28 (up to Aug) New Zealand (up to Aug) Australia (up to Aug) United States (up to Aug) Argentina (up to Aug) 350 000
315 734
303 627
300 000 250 000 200 000
166 380 117 721
150 000 100 000
18 458
23 215
6 227
21 214
17 410
50 000 3 610
0
2015 20 Oct 2016
2016
EU-28 (up to Aug) New Zealand (up to Aug) Australia (up to Aug) United States (up to Aug) Argentina (up to Aug)
SMP Exports
600 000 477 912
500 000 372 169
.
390 231
358 717
.
275 983
246 246
400 000 300 000 200 000
130 396
.
104 147
. 100 000
17 235
16 351
0
2015 20 Oct 2016
2016
EU-28 (up to Aug) New Zealand (up to Aug) Australia (up to Aug) United States (up to Aug) Argentina (up to Aug)
WMP Exports
1 000 000 858 289
. 814 543
900 000
.
800 000 700 000 600 000
274 460
273 873
500 000 400 000
73 305
48 383
46 880
78 282
26 853
42 964
300 000 200 000 100 000 0
2015 20 Oct 2016
2016
EU-28 (up to Aug) New Zealand (up to Aug) Australia (up to Aug) United States (up to Aug) Argentina (up to Aug)
CHEESE Exports
600 000
523 748 460 176
500 000
224 286
300 000
230 513
108 172
209 606
109 814
400 000
188 233
200 000 31 451
26 980
100 000 0
2015 20 Oct 2016
2016
EU-28 Exports (1/2) Source : Eurostat (COMEXT)
BUTTER exports
BUTTER exports
1000 tonnes
1000 Tonnes
25 140
119
135
126
120
120 94
100
102
20
102
2015
2016
15
80
10
60 40
5
20
Jan- Aug 2016 exports compared to 2015 : + 37%
0
2009
2010
2011
2012
2013
2014
2015
0
Jan
Feb
Mar
Apr
SMP exports
1000 Tonnes
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
SMP exports
1000 tonnes
80 800 648
700 600
515
500
300
2015
50
407
40 2016
229
200
30
Jan- Aug 2016 exports compared to 2015 : - 18%
100
20 10
0
2009
20 Oct 2016
60
520
376
400
70
691
2010
2011
2012
2013
2014
2015
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
EU-28 Exports (2/2) WMP exports
1000 Tonnes
WMP exports
1000 tonnes
60
500
458
445 388
400
386
374
390
50
400
40
2016
2015
300
30
200
20
100
10
Jan- Aug 2016 exports compared to 2015 : - 0% 0
2009
2010
2011
2012
2013
2014
2015
0
Jan
Feb
Mar
Apr
CHEESE exports 1000 Tonnes 768
667
700
600
Jun
Jul
786
721
673
Aug
Sep
Oct
Nov
Dec
CHEESE exports
1000 tonnes
800
May
80
2016
719
70
2015
60
569
50
500 400
40
300
30
200
20
Jan- Aug 2016 exports compared to 2015 : + 14%
100
10
0
2009
20 Oct 2016
2010
2011
2012
2013
2014
2015
0 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
BUTTER + Butteroil Imports
EU-28 (up to Aug) United States (up to Aug) Russia (up to Jul) China (up to Aug) Mexico (up to Jul) 70 000
59 626 54 802
60 000
52 686
50 000
44 294 34 216
40 000 29 882
25 425
30 000 21 755
17 098
15 109
20 000 10 000 0
2015 20 Oct 2016
2016
EU-28 (up to Aug) Mexico (up to Jul) Russia (up to Jul) China (up to Aug) Japan (up to Aug)
SMP Imports
180 000 154 859
146 050
160 000
142 888
128 545
140 000 120 000 100 000 72 082
61 573
80 000 60 000
37 681 21 834 1 884
40 000
20 000
2 599
0
2015 20 Oct 2016
2016
EU-28 (up to Aug) Russia (up to Jul) China (up to Aug) United States (up to Aug) Mexico (up to Jul)
WMP Imports
400 000 337 475
350 000
274 681
300 000 250 000 200 000 150 000 100 000
2 033
17 424
7 008 4 687
4 652
23 814
10 233 9 479
50 000 0
2015 20 Oct 2016
2016
EU-28 (up to Aug) United States (up to Aug) Russia (up to Jul) China (up to Aug) Japan (up to Aug)
CHEESE Imports
200 000 172 732
164 832
180 000 160 000
130 972 126 693
119 907 107 981
140 000 120 000 100 000 64 043
49 189
39 848
47 545
80 000 60 000
40 000 20 000 0
2015 20 Oct 2016
2016
Main Dairy Importers (Butter + Butteroil Russia
1000 tonnes
1000 Tonnes
16 14
125
12
100
10 2015
75
136
50 25
54
72
73
139
8
2016
95
6
68 4
Jan-Jul 2016 compared to 2015 : - 4%
0 2009
2010
2011
2012
2013
2014
2
2015
0 Jan
China
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1000 tonnes
1000 Tonnes
16
Jan-Aug 2016 compared to 2015 : + 35% 14 125
12
100 75
8
2016
50 25
10
2015
80 28
23
2009
2010
36
48
52
2012
2013
6
71
4 2
0 2011
2014
2015 0
Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1/2)
(Butter + Butteroil
Main Dairy Importers Egypt
Jan-May 2016 compared to 2015 : - 11% 2016 1000 tonnes
12
1000 Tonnes
Jan-May 2016 compared to 2015 : - 11% 10
125
8
100 6
75 2016 98
50 25
38
49
35
50
45
4
2015
55
2
0 2009
2010
2011
2012
2013
2014
2015 0
Jan
United States
Feb
Mar
Apr
May
1000 tonnes
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan-Aug 2016 compared to 2015 : + 35% 12
1000 Tonnes
Jan-Aug 2016 compared to 2015 : + 35% 10 125 8
100 75
6
2016
2015
50 25
4
24
14
13
18
14
22
2010
2011
2012
2013
2014
0 2009
40 2 2015
0 Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2/2)
Main Dairy Importers (S.M.P. - 1/2) China 1000 tonnes 40
1000 Tonnes
Jan-Aug 2016 compared to 2015 : - 2%
35
300
30
250
25
200
20
150
235
100 50
70
89
2009
2010
130
2016
253
2015 15
200
168
10
5
0
2011
2012
2013
2014
2015 0 Jan
Feb
Mar
Algeria
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1000 tonnes
2016
40 1000 Tonnes
35 30
250
25
200
20 150 15 100 50
93
98
129
168 112
120
131
2015
10
5 0 2009
20 Oct 2016
2010
2011
2012
2013
2014
2015
0 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Main Dairy Importers (S.M.P. – 2/2) Indonesia Indonesia
1000 tonnes 1000 tonnes 25
1000 Tonnes 1000 Tonnes
Jan-May 2016 compared to 2015 : - 3%
Jan-May 2016 compared to 2015 : - 3% 20
175 250 150
15
125 200
100 150 75 50 100 25 50 0 0
104 104
132 132
128
136
128
136
155 155
146
145
146
145
2015 2009
2016
10
2010 5
2009
2010
2011
2012
2013
2014
2015
2009
2010
2011
2012
2013
2014
2015
0
20 18 16 14 12 10 8 6
4 2 0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
2016
Russia
2014
1000 tonnes
1000 Tonnes
20
Jan-Jul 2016 compared to 2015 : + 17% 250
16 14
200
2016
2015
150
12 10 8
100 112
50 0
18
63
8 2009
2010
27
27
2011
2012
95
6
113
4
2013
2014
2
2015
0 Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Main Dairy Importers (W.M.P.
1/2)
China 1000 tonnes
140
1000 Tonnes
Jan-Aug 2016 compared to 2015 : + 23% 120 700
100
600
500
80
400 619
300
200 100
326
320
671
406
60 347
2015
40
2016
177
20
0 2009
2010
2011
2012
2013
2014
2015
0 Jan
Feb
Algeria
Mar
Apr
May
Jun
Jul
Aug
Sep
2016 2014
Oct
Nov
Dec
1000 tonnes
60
1000 Tonnes
50 350 300
40
250
30
200 150
100
200
167
204
188
204
20
210
142 2015
50
10
0 2009
2010
2011
2012
2013
2014
2015
0 Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Main Dairy Importers (W.M.P. Singapore
2/2)
2016
2013 compared to 2015 : - 2% Jan-Aug 2016
1000 tonnes
1000 Tonnes
30
Jan-Aug 2016 compared to 2015 : - 2% 25
350 300
20
250 200
15
150 100
50
74
83
81
74
90
85
75
2009
2010
2011
2012
2013
2014
2015
10
2015
2016
5
0
0
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Hong Kong
Oct
Nov
Dec
1000 tonnes
1000 Tonnes
30
Jan-Aug 2016 compared to 2015 : + 14% 25
350 300
20
250 200
15
150 100 50 0
33
39
51
2009
2010
2011
64
74
81
75
2012
2013
2014
2015
10
2015
2016
5
0 Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Main Dairy Importers (Cheese – 1/2) Russia
2016
1000 tonnes 25
1000 Tonnes
20
450 400
2016
350
2015
15
300 250
440
200
150 100
229
294
296
316
10
316
208
Jan-Jul 2016 compared to 2015 : + 17% 5
50 0 2009
2010
2011
2012
2013
2014
2015
0 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Japan
Oct
Nov
Dec
1000 tonnes
40
1000 Tonnes
Jan-Aug 2016 compared to 2015 : + 5%
35
350
30
300
25
250
20
200
150 100
184
199
215
235
236
232
2015
2016
249
15 10
50
5
0 2009
2010
2011
2012
2013
2014
2015 0 Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Main Dairy Importers (Cheese – 2/2) United States
1000 tonnes
25
1000 Tonnes
Jan-Aug 2016 compared to 2015 : + 9% 20
350
2016
2015
300
15
250 200
10
150 100
162
138
143
154
148
165
200
50
5
0 2009
2010
2011
2012
2013
2014
2015
0 Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1000 tonnes
South Korea
25
1000 Tonnes
Jan-Aug 2016 compared to 2015 : - 2% 20
350 300 15
250 200
2016
150
10
100 50
49
61
76
78
85
97
2009
2010
2011
2012
2013
2014
2015
112
5
0
2015 0
Jan
20 Oct 2016
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
U.S. milk production 8 500
8 250
7 750
2013 2014
7 500 2015 2016
7 250
Jan-Aug 2016 vs 2015 : + 1.7% (real monthly production)
Source:USDA 20 Oct 2016
Dec
Nov
Oct
Sep
Aug
Jul
Jun
May
Apr
Mar
Feb
Jan
7 000
in 1000 tonnes
8 000
Australian milk production 1 200 Jul-Jul 2016/17 compared to 2015/16 : - 10.3%
1 100
900 2013/14
800 2014/15
700
2015/16 2016/17
600
20 Oct 2016
Jun
May
Apr
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Aug
Jul
500
Source: Dairy Australia
in 1000 tonnes
1 000
NZ milk production 3 500
Jun-Aug 2016/17 compared to 2015/16 : - 2.0% 3 000
.
2 500
2013/14
1 500
2014/15
1 000
2015/16 2016/17
in 1000 tonnes
2 000
500
20 Oct 2016
May
Apr
Mar
Feb
Jan
Dec
Nov
Oct
Sep
Aug
Jul
Jun
0
Source: DCANZ - Fonterra
GDT Auction results
Anhydrous Milk Fat
Event 173
-1.0%
Butter
-0.3%
Butter Milk Powder
Cheddar
+9.3%
-2.3% $ 3 430
$ 4 954
$ 3 891
$ 2 408
Lactose
Rennet Casein
Skim Milk Powder
Whole Milk Powder
-9.7%
-3.7%
-3.9%
-3.8%
$ 6 574
$ 2 209
$ 2 681
4 October 2016
-3.0%  Average price (USD/MT, FAS)
$ 2 880
2.3%
$ 4 954
20 Oct 2016