Dutch markets for sweet whey are posted €10 lower, but France is unchanged, and all the talk is about Chinese demand. One vignette was a Chinese premix company attending the virtual Eurotier, ostensibly selling premix, but was actually a front for buying sweet whey. Whilst the European pork market is on its back, and farmers have to feed, Chinese buyers are paying €50 over the market just to secure whey supply, so the market is still in the vortex, despite showing unchanged values week-on-week. Both lactose and whey permeate are impossible to find, so there is no pressure from by-products.

French milk production fell by 2.2% last year, although organic milk did increase by nearly 5%. Poor forage quality, low milk price, cold weather and raging feed prices remain the cornerstones of the reduction in liquid milk supply, and that is feeding through into a lack of skim milk powder.

The only good news is that Sterling currently appears to be the least un-favoured currency, basking at levels not seen since Brexit was still too far ahead to worry about. The 68% fall in UK exports to the EU during January doesn’t seem to be bothering currency dealers’ pretty little heads.

BDC agri is the UK broker for Lacto Production milk and whey powder products.

For further information and prices, contact Greg Dunn on 01206 381521 or g.dunn@blackdiamondcommodities.com