Despite last week’s gloomy outlook, things have got better, at least on paper. Sweet whey is quoted as unchanged in Holland, and skimmed milk powder is allegedly down €40 on the week, although quite where cheaper than unchanged physical offers are I do not know. The backdrop is of course the dive in the soy complex, but producers aren’t exactly flooding the market with physical supply of whey or skim milk. I suspect this may be traders trying to get some arbitrage and selling the market down, but they have got their fingers burnt before….

All depends on where proteins go from here, as the slide in soy looks like speculators short-selling the market, but out here in the real world of finding physical milk powders to make stuff with, there is no stampede by sellers and no falling knife to grab.

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