Major cheese products such as Cheddar, Mozzarella, Edam, Gouda have remained pretty static in price over the summer. Milk volumes have been healthy across Europe and demand steady which has kept price movements to a minimum. However butter manufacturers have endured a more challenging time as butter prices slipped back to the €3300/ton mark.
In the last market update we reported on butter dropping from €4500/ton to €3800/ton. A further drop of €500/ton is significant and not many predicted such a sharp fall in price. However a bit of perspective is also required here as the abnormally high butter prices of the previous 2 years were unsustainable for many manufacturers reliant on butter.