{"id":518380,"date":"2020-08-13T11:20:30","date_gmt":"2020-08-13T10:20:30","guid":{"rendered":"https:\/\/www.agriland.ie\/?p=518380"},"modified":"2020-08-13T11:47:33","modified_gmt":"2020-08-13T10:47:33","slug":"dairy-market-analysis-some-price-weakness-in-smp-but-butter-holds-stable","status":"publish","type":"post","link":"https:\/\/lightsail.agriland.ie\/farming-news\/dairy-market-analysis-some-price-weakness-in-smp-but-butter-holds-stable\/","title":{"rendered":"Dairy market analysis: Some price weakness in SMP but butter holds stable"},"content":{"rendered":"
The last couple of weeks have seen some price weakness creep into skim milk powder (SMP) markets while butter prices have been very stable, according to multi-national financial services firm StoneX (formerly INTL FCStone).<\/p>\n
In a breakdown of where the market is at at the moment to AgriLand<\/em>, Dr. Peter Meehan, senior commodity analyst at StoneX, said:<\/p>\n “This week saw the European SMP quotation post its third decline in a row as it came in at \u20ac2,083, down 2.0% on the week while four moves lower in the last five weeks sees the European SMP quotation down \u20ac139 [-5.9%] from the recent highs posted in early July.<\/p>\n The European butter quotation continued to hold firm, remaining at the \u20ac3,385 level for the sixth consecutive week.<\/p><\/blockquote>\n “EEX futures\u2019 prices have also moved lower over the last few weeks with EEX butter\u2019s August 20 to April 21 strip down 2% since mid-July; while EEX SMP has given up 7.5% on average over its August 20 to April 21 contracts during the same period.”<\/p>\n