… them Dutch traders. Yes, in a market awash with the stuff, they’ve pushed skim milk up €20 this week! And now the premium over the German market is €120 (yes, that is correct), and the haulage differential is no more than €50, I’m sure German processors are playing ‘hunt the buyer’ in Holland. All of which means there’s no change in the real market and the next move is likely to be downward.
Sweet whey is doing the sensible thing, and declined €20 this week, same fundamentals as skim, as buyers sniff blood. Everything else in the blenders' arsenal remains plentiful, even gluten, which has been rather held to ransom of late.
The US soya harvest is 90% done, fastest in a decade and planting is catching up fast in Brazil, but both beans and soy oil remain broadly unchanged, with only meal dipping $20 this week, currently in the high $290’s as I write, the first time there’s been a 2 in front since July 2021. Palm oil is yet higher, reaching prices last seen two years ago, and if the aberration of H1 2022 is removed, a record high price.
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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