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.