The average EU cheese price (Jul-Sep) dropped 3% against the previous three-month average (Apr-Jun). Adequate cheese supplies in the EU have hit cheese prices, pushing them lower. The EU cheese production is expected to increase in 2019 by 65,000 tonnes, up 1% y-o-y, due to rising availability of milk during the remainder of the year.
The Jul-Sep average price of New Zealand cheese fell 7% against the Apr-Jun average. Cheese manufacturing levels are due to increase in New Zealand, as between October and November, New Zealand milk and cheese production is at its annual peak. Therefore, over the next three months (Oct-Dec), milk and cheese supplies are set to increase, which may result in weak prices. However, overall
From economical to political, all the factors impacting the cheese market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions.