Putting first things first, I’ll start with politics and the pound.

If one had returned from a wonderful holiday in Fantasyland, not seen a paper, telly or heard the radio, but just looked at the graph of sterling over the last days, nothing would stand out as surprising, which is pretty amazing considering the forces at work in the market.

One can only surmise the clever money correctly predicted the weasels that have taken over Toad Hall would get their furry bottoms well and truly kicked, leaving the pound precisely where it started this tumultuous week. Any sign that the ship of fools is heading back to Fantasyland, for that is where the Magic Money Tree is to be found, and sterling will be off like a rat down a drainpipe.

To duller matters, no change in French prices this week, Dutch whey is down €10, skim milk up €10 (edible grade up €40), so the same prediction applies, forward whey will drift down, skim will continue its rise and sterling will react to the will of the people, and those who manipulate it to their own ends.

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