Colors reflect world market price movements in the week prior to publishing. Grey is 'no change' and in case of a white block, there is no information about price movements.
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Demand is winding down towards Christmas which amplifies the supply side challenges
Now that most purchases for the holiday season have been completed, supply pressure is increasing even further as every bit of capacity is still required to process the milk in the Western world. Competition for sales in export markets is intensifying the world over and buyers are flooded with offers. The outlook for the start of the new year is therefore bearish. Demand in the whey categories is keeping markets tight but all other dairy commodities lack that kind of demand strength to keep up with the unstoppable supply momentum. Milk prices are falling rapidly as the market needs a bit of relief from the pressure that is developed at the upstream part of the value chain. With Northern hemisphere milk flow building towards peak production and farmers still getting support from favorably low input costs, it may take some time before the current supply momentum weakens.
Exchange rates used in this document: Oct EUR 1 = USD 1.163; Nov EUR 1 = USD 1.152; Dec EUR 1 = USD 1.167