DCA benchmarks: Cheese commentary week 25

DCA cheese benchmarks were marked by a clear decline in week 25 (June 18), with foiled cheeses and Mozzarella recording the sharpest declines amid ample availability and cautious buying activity. The Cheddar complex remained comparatively resilient, although increasing volumes from Ireland and the UK could add further pressure in the coming weeks. Emmentaler held broadly stable, while naturally ripened Gouda also moved lower. Market sentiment remained bearish overall, with quiet trading conditions, limited urgency from buyers, and expectations of further price declines through the summer.Foiled cheeses faced a weekly decline, with Gouda being the most resilient at €3,210 (-1.8%). Edamer benchmarks declined by 2% week-over-week to €3,185, while Frau Antje fell by 2.3% to €3,350, its gap compared to Gouda closing slightly. However, Frau Antje has been more resilient on a monthly perspective, falling by 5.6%, while Gouda and Edamer fell between 7.4% and 7.7%. Market signals remain bearish, with enough availability of young Gouda in the market and buyers waiting for prices to decline further before placing orders.Mozzarella faced a slightly more intense drop, with benchmarks falling by 2.5% over the previous week to €3,310. Despite some remaining demand in the market for Mozzarella, lower prices have been asked from buyers in Asia, and have been further pressured by lower US prices.The Cheddar complex also declined, albeit at a more moderate pace. Compared to the previous week, Curd benchmarks declined by 0.8% to €3,305 and Mild by 1.2% to €3,335. This resilience also extended to monthly results, with declines ranging between 2.7% and 3.9%. That said, reports indicate an increased presence of Irish and British Cheddar in mainland Europe, which could provide further pressure for prices in the coming weeks. In contrast, Emmentaler has remained broadly stable, increasing by 0.8% week-over-week but declining by 1.2% month-over-month to €3,835.Naturally ripened Gouda also faced a moderate decline, falling by 1.2% over the previous week to €3,675, contrasting with a slight increase in Cagliata (+0.5%). Contributor notes pointed to a generally weaker cheese market. Market participants described increasing price pressure, quiet trading conditions, limited buying interest, and expectations of further decline throughout the summer. Additional volume availability, holiday-related demand calmness, and concerns over export demand were recurring themes. Although demand remained present in some cheeses, such as Mozzarella, buyers appeared comfortable waiting for prices to decline further.