It’s a largely unchanged picture to report this week, with only feed grade skim milk in the Netherlands posting a suspicious €20 hike.
Looking back over recent months, the only seismic change to fundamentals has been the acceptance of whey derivatives for edible use in China, and this has affected the pricing structure of feed grade whey. The supply v demand balance is tilted to the upside as the overall supply of whey and derivatives for feed is reduced. However, looking at the immediate supply situation, there is no lack of sellers, which discourages buyers and the market could easily take a step-change downwards.
Sterling continues to suffer the predictable blows of dire economic data overlaid with the questionable wisdom of continuing to Get Brexit Done, now the Treasury has been replaced with ‘Cummings’ Misfits’.
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 email@example.com