It was another mixed week for European dairy quotations last week, according to analysis from multi-national financial services firm StoneX.
Butter, skim milk powder (SMP) and whey all moved up last week (the week ending September 4), while whole milk powder (WMP) moved in the opposite direction, according to Dr. Peter Meehan, senior EU dairy analyst for StoneX.
German and Dutch quotations drive the increase for butter. Meanwhile, the French quotation for butter was unchanged.
For SMP, the German quotation drove the move upwards, while French and Dutch quotations were unchanged.
Whey saw its fifth increase in six weeks, thanks to German and Dutch quotations, although the product slipped back on French figures.
For WMP, its overall decrease was largely down to slipping Dutch quotations. The corresponding French and German figures were unchanged.
Dairy analysis: Milk collections
According to Meehan’s analysis, provisional Irish milk collection data for July is showing production coming in at 1.06 million tonnes, up 1% year-on-year, and up 4.6% on the three-year average for the month.
Cumulative collections now trail 0.6% behind last year at 5.45 million tonnes.
Milkfat was reported at 4.03%, up from 3.99% a year earlier while protein content came in at 3.47%, up from 3.42% in 2021.
This put milk solid collections for the month at 79,400t, up 2.1% year-on-year, while year-to-date milk solid collections are 0.2% behind last year at 439,000t.
Collections by Fonterra in New Zealand, dropped back behind last year in July, reported at 19 million kilograms of milk solids (kg ms), down 2.4% year-on-year.
Fonterra Australia meanwhile, saw collections in July post a year-on-year decline, coming in at 5.3 million kg ms, down 2.7%.
Generally in Australia, milk collections remained behind last year in July, reported at 581,000t, down 8.3% year-on-year, recording their lowest June since pre-2010, while also falling 8.7% behind the three-year average for the month.
Year-to-date Australia collections total 4.37 million tonnes, down 6.6% year-on-year. Last month, Australian collections for their full 2021/2022 season were at 8.76 million tonnes, down 3.9% year-on-year.