Gregs Milk Monitor 14/15

Welcome to the BDC agri blog. Here you will find reports from some of the events we attend, as well as Greg's popular weekly view of the UK milk and whey powders market:

"Many years ago, I got my first job in the dairy industry, as class milk monitor at Tollesbury Primary School.
I thought it was a job for life, but sadly Margaret Thatcher famously ‘snatched’ free school milk,
and the nation’s health has suffered since. Sixty-odd years later, I am still musing on the dairy industry,
with an irreverent view of politics and currency ..." Greg Dunn

4 September 2019: politics and the pound

If one had returned from a wonderful holiday in Fantasyland, not seen a paper, telly or heard the radio, but just looked at the graph ...

Sep 4, 20191 min read

28 August 2019: A possible joker in the pack

It seems buyers are still on their summer holidays, as traded volume is light, with none of the expected downward pressure on whey prices

Aug 28, 20191 min read

21 August 2019: The fundamental weakness in whey and strength in skim remain

The fundamental weakness in whey and fundamental strength in skim remain

Aug 21, 20191 min read

15 August 2019: The market is quite odd at the moment ...

The market is quite odd at the moment because it is so even, but only from the buyers' perspective. Maybe it's still the tail-end of holiday

Aug 15, 20192 min read

8 August 2019: Book your forward sterling, skim will probably only decrease slowly

The negative UK economy figures have pulled the carpet out from under sterling, as threadbare as it already was ...

Aug 9, 20192 min read

1 August 2019: Skim milk is in too few hands and whey is the opposite

Having been on a road trip with Sylvain these past two days, we have talked much on the likely future of the milk powder market.

Aug 1, 20192 min read

25 July 2019: Currency is a funny old market

Starting with skim milk this week, it's an interesting market of equally opposing forces cancelling each other out.

Jul 25, 20191 min read

18 July 2019: Whey's where all the action is

We'll lead with whey this week, as that's where all the action is. Cheese production is still going gangbusters, so plenty of whey.

Jul 18, 20191 min read

11 July 2019: Skim milk is in the hands of strong sellers, and they ain’t budging

Skim milk is in the hands of strong sellers, and they ain’t budging. In fact, edible SMP actually rose in Germany last week, only €10,...

Jul 11, 20191 min read

19 June 2019: Markets on holiday?

Just a brief note this week, as prices are unchanged. Skim milk is down a touch (€10-30) on the Dutch market and whey is unchanged. Skim...

Jun 19, 20191 min read

12 June 2019: New leap in Chinese purchases of dairy products

Bit of an essay this week, so pull up a chair ... I have finally seen the reasoning of the Dutch companies that cornered the milk powder...

Jun 12, 20193 min read

5 June 2019: No false dawn

I’m glad to say last week’s stabilisation wasn’t a false dawn on skim milk powder, but the leverage that the middle market is trying to...

Jun 5, 20191 min read

29 May 2019: Skim has stopped going up!

Good morning, finally, the words you have been waiting seven months to hear - skim has stopped going up. At least in the French market,...

May 29, 20191 min read

15 May 2019: Skim is up, whey went sideways and the pound went down

Same old, same old, again this week, I’m afraid. Skim is up, whey went sideways and the pound went down. There are two Dutch firms who...

May 15, 20192 min read

9 May 2019: 'It's confidential' Brussels

Not often do we see the two pillars of milk powder moving in different directions, but that's what's happened this week. To quote Sylvain...

May 9, 20192 min read

3 May 2019

First of all, sorry for the late transmission, which is down to the rare combination of church and state holidays in Europe back-to-back;...

May 3, 20192 min read

25 April 2019

Good morning, not much to say, other than skim milk continues its upward march, up another €30 over the week, making the rise a full €100...

Apr 25, 20191 min read

17 April 2019

There's a couple of bits of news to pick over this week. Taking whey powder first, Lacto is posting a mild increase and the Netherlands...

Apr 17, 20192 min read

10 April 2019

Well, something had to happen, whey couldn't get any cheaper, and skim wasn't showing any signs of doing so, so enter the middle market!...

Apr 10, 20192 min read

4 April 2019

Whilst the rich aren't getting richer (but didn't expect to), the poor got unexpectedly poorer. The two houses of skim and whey diverged...

Apr 4, 20191 min read

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