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31 August 2023: Middle market moves


Guess who’s back from their ‘olidays? And they’ve got their buying boots on, so long positions are being built on sweet whey. Even skim milk’s getting in on the action, as both markets lifted this week.


Sweet whey rose €30, which given the low price represents nearly a 6% hike, whilst skim’s €20 rise only jumps 1%. There is no fundamental change in supply or demand, and still an unusually large offering of off-grades, but the middle market is definitely anticipating hiking the autumn market, which is no doubt delighting pretty desperate producers.


Background markets are steady to firm, with the soya complex broadly unchanged and palm oil slightly firmer. Soya crop conditions haven’t been battered as badly by hot, dry weather as predicted, but buying demand has remained brisk. Brent crude remains north side of $80, so veg oil remains supported from food/feed and biodiesel.


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



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