Somebody’s messing with the skim milk market, as the Netherlands is posted as €100 higher this week (+4.5%), but Germany is unchanged and France reports €50 lower. It certainly could signal a bottom in the market, as there is now much more buying activity from Asia, especially as China is looking for more non-soya proteins, and Central Europe is definitely more active in buying. Supply is still plentiful as stocks are slowly depleting, but definitely no longer building.

Sweet whey carries on sideways, with nothing further needing to be taken out of the price, as demand is now much more brisk.

Crude oil’s decline is the backdrop of palm oil drifting lower, as biofuel mandates reduce value, and India has switched to more reasonably priced sunflower oil. Soya oil is surprisingly unchanged, but no doubt under pressure as a humungous Brazilian soy harvest of 159 million tonnes is predicted for the next crop, 2023/24, on top of this year’s bin-buster.

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