18 August 2022: Still half right…

I think my crystal ball needs a polish, as the two milk powder markets are now diverging, counter to my recent musings. The sweet whey market has responded to my market call by rising a modest €10 per tonne (+1%), but this is pyrrhic compared to a further drop of €70 (-2%) in skim milk price.

Supporting indices have had a quiet week, so no outside stimuli, but it is worth noting that whilst whey is cheaper than this time last year, skim milk has now fallen to its lowest level this year. It is also worth pointing out that the real world prices of provisioning a milk powder factory are all over the place, and not mirroring the surprisingly cheap prices quoted on the Dutch headline market.

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