In a major shift in perception of market sentiment, it seems we are lucky to see sweet whey unchanged this week, as skim milk jumped 2%, up €50 to €2520. But it’s what’s going on in the further processed fats market that is marking blends, particularly CMRs up significantly. Hydrolysed wheat gluten has increased €100/tonne and fat filled whey increased by a whopping €130/tonne, putting cumulative €50 on a tonne of whey-based CMR. The fat-filled whey puts another €30 on a 50% skim CMR, plus the €25 from the hike in skim milk.
Coconut oil has been on a skyward trajectory all year, as has palm oil, but to balance this, it has dropped 7% in the last week on the likelihood of biodiesel mandates weakening globally after the virtual collapse of COP29. Likewise, soya has hung about the 10 cent mark for the last week, but the startling market is natural gas, up 45% this month and even 68% today, followed by crude oil, with geopolitical tensions rising again.
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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