Greg's Milk Monitor 6 June 2025: All about the whey

Another week of contraindications, as we see whey fall and skim rise, whilst the supplies of same remain difficult for whey and easier for skim, quite extraordinary.

Skim is reported to have fallen by €20 (-2.1%) to an unbelievable €810, whilst skim rose €10 (+0.5%) to €2440. The fundamental problem facing ongoing sweet whey is that its status as a byproduct is being threatened by the ever increasing demand for protein by the health industry, from those who seek to gain body mass and those wishing to lose it. Flat demand for cheese is hampering production of whey, and the margins for further processing it into concentrate far outweigh the returns from the humble feed market, so the market forces dictating its price seem to have changed permanently. So securing feed grade supply anywhere near the lower alleged market remains challenging.

Skim milk powder has surprised with its uptick, as there seems ample supply and little upward price pressure. Whey concentrate of any stripe is plain unavailable with no sign of increased production coming online. 

The soya market continues to surprise with its lack of fundamental weakness, fuelled by poor Chinese demand, a bin-busting Brazilian crop and US plantings surging ahead at a cracking pace. Crude oil is back up into the mid $60 range with Black Sea tensions on the rise again, and both soy and palm oil are holding steady.

BDC agri is the UK broker for Lacto Production milk and whey powder products.

For further information and prices, contact Greg Dunn on 07801 308054 or greg@bdc-agri.com