LivestockCheese exports climb 24% as US shoppers and restaurants buy less
US cheese exports were up 24% through July and now take more than 10% of production, helping absorb supply as retail and foodservice demand weakens.
LivestockUS cheese exports were up 24% through July and now take more than 10% of production, helping absorb supply as retail and foodservice demand weakens.
The farmer-owned co-operative set its August price at 39.08c/L and promised a floor for September to December, as Dairygold lifted its August price by 0.5c/L to 39c/L.
The co-op's chairperson cites stronger protein and cheese returns and slowing European milk supply; Kinisla also added 0.5c to reach 39.6c/L and Lakeland set 39.1c/L in the Republic and 31.4p/L in Northern Ireland.
The index slipped to 1,163 from 1,177 at the latest auction, with 42,444 tonnes sold to 126 winning bidders over 18 rounds at an average price of €3,349/t.
Under an agreement with the European Energy Exchange, CME will launch its own European dairy indices, futures and options and inherit the EEX butter and skimmed-milk-powder indices before the end of 2027, weeks before Euronext launches rival contracts on 19 October.