There is some good news, but not much. Namely, since our politicians have rediscovered their liking for a good party whipping, they’ve inadvertently put a bit of backbone back into sterling, and now even the blowhards seem to accept at least some postponement in leaving the EU. Still, a cent’s a cent and that has taken some of the sting out of a hike in sweet whey prices.
The old seesaw between whey and skim is back in action. Putting aside quite where 80,000 tonnes of SMP disappeared out of intervention to, the €300 hike in SMP values has focussed the minds of anyone with a drying tower, and thus whey has become less attractive to dry, so whey is ratcheted upwards, now up €60 in six weeks, half of that in the last week.
Now whey is technically becoming a bit shorter in supply, possession of booking dates is more important than predicting when the market will break, so a rolling month/six weeks cover seems the safe option.
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