DCA Benchmarks: Cheese market commentary week 35

The cheese market continued to strengthen overall. Most benchmarks moved higher, supported by more limited availability and continued demand, while naturally ripened cheese moved against the broader trend and showed particularly wide dispersion.Edam and Gouda continued to move higher, although at a slower pace than last week, both increasing by €20 to €3,395 and €3,405 per tonne respectively. Mozzarella also maintained its upward direction, rising by €15 to €3,685 per tonne. Demand remained strong despite the season nearing its end, while continued price increases have narrowed the year-on-year gap, with the benchmark now only 2.9% below its week 35 level last year.Cheddar strengthened more notably this week. Cheddar curd increased by €40 to €3,445 per tonne, while mild Cheddar recorded the largest increase, up €80 to €3,545 per tonne. Emmental and Maasdam also moved higher by €65, while Frau Antje increased by €50. Contributors generally reported limited availability and gradually rising prices, with lower milk availability increasingly influencing cheese production and allocation decisions. Naturally ripened cheese was the main exception to the firmer market, declining by €100 to €3,735 per tonne after increasing by the same amount last week. The market also remained particularly dispersed, with individual inputs ranging from €3,500 to €4,200 per tonne and a standard deviation of 5.1%. This wide spread indicates that the market was not fully aligned.