Dairy Market Crash in Q1 2024? Market report from 3-11-23
????Walo von Mühlenen AG
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Cheese, protein concentrates, spot milk price, slightly rising, milk fat stable, feed costs for skimmed milk powder slightly falling.
The European milk market is largely stable, with the exception of skimmed milk powder, where prices are falling slightly. Internationally, there is currently strong price pressure, which is expected to become apparent at the GDT auction on November 7, 2023.
The EU has concluded a new free trade agreement with New Zealand, which, among other things, facilitates the import of New Zealand dairy products. A similar agreement with Australia has failed for the time being.
World Cheese Award 2023, 15 medals for the Flower meadow cheese of the von Mühlenen family
And in Switzerland?
The Swiss franc has weakened slightly, which means that short-term price increases are not absolutely necessary. In September, cheese exports fell by 9.5% in the EU and 3.5% outside the EU, which can be considered catastrophic. Only in Italy are Gruyère cheeses still being offered at dumping prices, which is leading to an increase in exports.
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Question: Crash Q1 2024?
There is widespread mistrust of the markets, as evidenced by the recent price cuts in the GDT impulse. It remains to be seen how these developments will continue to affect the markets.
Our forecast for Q1:
We are hoping for a clear trend visibility at the GDT on 7.11.23. Due to the ongoing economic weakness, we expect prices to continue to fall.
We will be present at the following trade fairs:
?Best regards, Affineur Walo