Although the market is nominally unchanged, it still remains stubbornly firm, and whey posted €10 higher in Holland this week.

Looking back at the rise, the lows were in August last year, and whey has risen €400/tonne since then, €200 of which has been since the start of the year. Likewise, skim milk has risen €600 over the period, commensurately €300 since January. Whey derivatives and off grades are more readily available but full spec material remains difficult to find, and producers normally contracting forward have moved to spot sales.

So, no sign of this market breaking yet, and soya oil and palm are still going loopy (bean oil breasting $0.70 cents this evening), there’s precious little chance of a break soon.

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