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 traders are still peddling the ‘buy now and avoid the rush’ story, but as we are now in the annual contracting season for calf milk replacer, producer buyers could be spooked into covering their short position, with a potentially cumulative effect pushing prices yet higher. China remains the main threat to skim falling, but then again, they are the canniest buyers of all, and will probably find a way to engineer the market down, especially as the US is awash with milk and have to dump it somewhere, from where it will probably be resold to China!

No news as such on whey, so a quiet market for the summer in prospect.

Sterling looks about as healthy as it could, given the final two contenders for saving the un-saveable, are either the man who broke the NHS or the man who wants to sell it to Donald Trump.

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