WHOLE MILK POWDER - Q2 2023 REPORT
USA
• Market activity for dry whole milk was slow, but prices are continuing their trend lower.
• Market availability remains sound, but seasonal milk output levels are expected to keep near-term availability in check.
• Inventories availability from production earlier in the year are still available for end users.
• Producers are expecting upcoming limitations on milk, and processing, to keep buying relatively active on the spot and contract markets.
• Current market tones, though, seem quietly bearish.
EUROPE
• The price range for European whole milk powder (WMP) contracted, moved up from the bottom and down from the top.
• Demand has gone quiet as market participants have begun their summer holidays.
• Due to reduced seasonal milk output WMP production has also slowed.
• WMP inventories are in balance with current needs, and prices are stable.
OCEANIA
• Oceania whole milk powder (WMP) prices are lower in the pricing range.
• Relative to an ease in current demand, buyers avoid pushing prices higher.
• WMP supplies are sufficient and building.
• Southeast Asia led buyers in the volume of WMP purchased at GDT events in Q3, procuring over half the volumes traded.
• WMP market has a fairly mixed undertone.