top of page
BDC agri

8 August 2024: Silly season (continued)


With no discernible justification, the headline Dutch markets are higher yet again this week, sweet whey by an astonishing 3% (up €20 to €670) and skim milk by a more muted half percent, up €10. 

 

Traders who are still at the office seem very bullish with their offers, over €800 for some presumably gold-plated material, but the plain fact is that there is more material available than processors currently require. If that requirement increases, the seers in the trading community will no doubt get their payout, but with China still out of the market for the foreseeable future, this autumn doesn’t look like the usual trajectory.

 

Chicago is still heading down on soya, with new crop sales at a 20 year low, and soy oil briefly went into the 30 cent range two days ago. So no support for milk powders from the soya or palm complex. 

 

Only other thing worthy of comment is the staggering loss of nigh on three eurocents by the pound because of the civil unrest, and also how slow the recovery is given the strong deterrent handed down by the judiciary. 


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



1 view

コメント


bottom of page