Another week of mixed headline news, but more evidence of stocks coming out of the woodwork. Sweet whey slid €20, but skim rose €20, countering some evidence in the market. On the face of it, sweet whey is now at breakeven, according to the drying towers, below which they were reluctant to go last time, but withheld stock plunged the market to €540 last summer.

Despite the firmer headline skim market, downgrades are becoming more plentiful. And, the Dutch production figures for December confirm a modest increase in skim production after the lows in September that fuelled the autumn price increase.

Other markets are quietly lower, with mega soya crops due in both American continents and China still sidelined, buyers' expectations are for radically lower prices across the feed spectrum, and that sentiment is extending to milk powders.

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