You may have seen elsewhere the market has leapt €50 on sweet whey. Quite why is a harder question to answer.
Just about every milk powder company in the world was at Eurotier, and as is the way with exhibitions/conferences/bourses, traders whip up a frenzy that is invariably a bull market. Sylvain at Lacto Production tells me this hike has been triggered by traders marking prices up, while supplies remain abundant.
Apparently the German market has not risen, while the Dutch market hit the gradient. So his view is that it is traders needing some movement, either up of down, to position themselves with a long/short position to widen out what they see as a worthwhile margin.
He may, of course, be wrong, but his batting average has been quite consistent over the past couple of years.
One other thing, everyone was hitting the Lacto stand looking for WPC35, so the shortage is now a famine.