Having beaten myself up for the premature call on skim milk, I now feel more vindicated as the market appears to have bottomed out, rising €70 (+2%) this week. The firmer call I made on sweet whey is robust so far, up another €10 and now a cumulative 2% higher than the flat July market. But then I had to be right sometime!

Not much else to report; both palm and soya oil indexes remain broadly unchanged, but the trading range in soybeans has been a whole dollar per bushel higher over the last week, with the soymeal leg absorbing the rise, up $40 per tonne.

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