Current Market Situation

The market has been relatively quiet over Q3 and a lot of buyers seem to have covered their requirements at keen pricing when the market was at a low ebb. Milk production levels have also been stable but there certainly was a drop in volumes over September and October which showed early signs that the market prices may pick up again.

Mozzarella picked up in price in September but has stabilised again in recent weeks. Cheddar prices were really sluggish and were one of the few cheese products still dropping in price in the autumn but even that has shown signs of reversing in recent weeks with an increase of €150-200/ton. The increase in Cheddar price could be due to a sharp rise in Gouda/Edam prices since September. There has been a €500/ton lift in Gouda prices since September and this has led to some processors turning to Cheddar as a cheaper alternative replacement. Butter has been moving consistently up in price and has shown a near €1000/ton increase since September.

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