The Dairy Cafe

Dairy Cafe: Protein Markets Update — WPC80/WPI Pricing, Demand Shifts, MPC Substitution & Supply Outlook (with Joshua White) In this episode of Vesper’s Dairy Cafe, the hosts are joined by Josh White to discuss dairy protein markets, focusing on WPC80 and WPI pricing, recent signs of more offers, and whether buyer activity is slowing due to seasonality, inventory coverage, or price resistance....

The dairy market is moving at two speeds right now, and the next Dairy Cafe is a chance to step back and read the whole board. On one side, butter, milk powders and most cheese have drifted lower through late spring. On the other side, the whey protein complex keeps setting record highs. So which way does the second half of the year break? Sebastiaan Laurenceau and Feiko Keilholz will walk through...

In this market update, the hosts discuss a more bearish tone emerging from the Eucolait conference, with noted weakness in European butter and milk powder. They review skim milk powder/nonfat dynamics, highlighting that US prices fell from just under $5,000/ton to about $4,600/ton but remain over $1,000/ton above other origins; a CME nonfat bounce is attributed to short-covering and ongoing supply...

In this episode, Jasper and hosts discuss recent dairy market movements, focusing on butter, cheese, skim/non-fat, whey, and milk proteins. They highlight a major “protein boom” expanding from whey proteins into milk proteins (MPC 85), with April prices up about 25–30% month over month and Q2 MPC supply essentially sold out, driven by limited market size, substitution from higher-priced whey prote...

In this biweekly dairy update, hosts review global dairy fundamentals and market behavior. They note abundant milk supply worldwide, with January 2026 showing a 4.29% global milk surplus year over year, keeping fundamentals weak even as proteins are volatile. In Europe, France’s surplus is shrinking but still positive, Germany remains about 6.5% higher, and high milk prices (~40 cents, higher in t...

In this Dairy Cafè Vesper biweekly update, the hosts review global dairy markets and a U.S. deep dive, focusing on butter, skim/nonfat powder, cheese, and whey. European butter prices fell sharply from around 4.7 to as low as 4.3, driven by fewer buyers, ample stock perception, and volatility dominated by trader volume as many buyers are covered for Q2–Q3 and looking to Q4–Q1. U.S. butter softened...

In a biweekly dairy markets update, speakers discuss unusually high volatility early in January, led by a sharp rally in skim/nonfat dry milk prices (above $3,000/ton; futures rising from about 118 to 158 cents/lb), which also lifted other products like European butter largely through sentiment rather than fundamentals. They attribute the move mainly to a late-2025 slowdown in US milk powder produ...

In the first 2026 episode after a four-week break, the hosts review dairy markets: milk remains abundant in Europe and the US, keeping milk fats weak as European butter prices fall below 4,000 and cream becomes extremely cheap, encouraging butter production and cold storage buildup that could cap price rebounds. Milk output has been exceptionally strong (including notable H2 2025 growth), likely s...

The final recap of major dairy market movements and looks ahead to 2026, led by analyst Jasper and marketplace head Seb. Butter/milk fat is described as the weakest complex, falling from about €7,500/ton early in the year to near €4,000 with potential to trade around €3,5–3,9k in Q1, driven by strong milk output, seasonal stock building into May, and buyers stepping back after covering needs; over...

In this episode, Jasper review busy dairy markets after the U.S. government shutdown ends and data resumes, noting Seb is traveling in France. European butter prices drop further amid heavy cream and ample milkfat, while European powders jump mainly due to exchange-rate shifts that reopen export opportunities despite oversupply. European cheese prices recover on stronger exports, with cheddar pres...

Join dairy experts Jasper Endlich and Feiko Keilholz as they return from the Oakley Conference to unpack key dairy market trends. From record US butter exports and European price slumps to a surging global milk supply and the cheese market's pivotal role, this episode dives deep into the numbers, shifts, and signals shaping the industry. Includes updates on SMP, Oceania milk flow, retail dynam...

European butter have slipped below the €6,000/mt mark, while SMP prices are falling worldwide, and this may only be the beginning...In this Dairy Café we dive into these rapid price declines with our hosts Jasper Endlich, Sebastiaan Laurenceau and Feiko Keilholz. They'll break down the forces behind this shift and what procurement teams should expect next. Perhaps the timing for budget planning an...

Butter prices are sliding, down €1,000/mt in less than a month. What’s fueling the drop? In this Dairy Café, our analysts will explain the drivers behind the market shift, including: ↳ Fundamentals behind the sharp decline ↳ Futures vs. spot market dynamics ↳ Real-time trading patterns from our marketplace ↳ Technical signals to watch ↳ Forward outlook *This podcast is part of our bi-weekly webina...

In this week’s episode of the Dairy Café, market experts Jasper Endlich, Feiko Keilholz, and Sebastiaan Laurenceau unpack the mid-summer shifts shaping your Q4 procurement strategy and which side of the market is likely to move first. New Zealand’s milk season is gaining pace, boosting global supply. In Europe, sellers are holding off until buyers return from holiday, while buyers wait for sellers...

Our latest dairy analysis shows dairy buyers struggling with: 𝗘𝘅𝗰𝗵𝗮𝗻𝗴𝗲 𝗿𝗮𝘁𝗲 𝘃𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆: EUR/USD shifts moved European SMP prices €35/mt overnight 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗽𝗿𝗶𝗰𝗲 𝗴𝗮𝗽𝘀: WPC80 at €12,100/mt in Europe vs €9,341/mt in the US 𝗤𝟰 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴 𝘂𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆: Balancing current conditions with seasonal tightness expectations 𝗠𝗶𝘅𝗲𝗱 𝗳𝘂𝗻𝗱𝗮𝗺𝗲𝗻𝘁𝗮𝗹𝘀: Higher milk production but lower butter stocks In this episode of The...

In this episode of The Dairy Café , Vesper’s dairy experts Jasper Endlich, Sebastiaan Laurenceau, and Feiko Keilholz explore the economic forces shaping international dairy trade. They break down the trends that matter most to buyers, suppliers, and strategists in the dairy space, covering: - Currency fluctuations and their impact on dairy pricing - Oil price trends and logistics implications - Im...