20 March 2019

I don't mind being a cracked record when the markets are stable and reasonably priced, as it means the middle market haven't got the whip hand, but this flat market still feels unnecessarily high, and cracks are starting to appear in whey at least, with the Netherlands market having drifted lower while the French market holds stable.

Skim milk remains at its giddy heights, with buyers expecting a surge in spring milk will pull the market down, and sellers still not believing their luck is holding. I think the buyers will win this one, but it may take a month yet before we see enough downward pressure.

Currency remains surprisingly buoyant, only losing a cent in the current debacle. One wag described last week's shenanigans as akin to the Titanic voting against the iceberg. It comes to something when MPs are asking the BBC chief political correspondent what is likely to happen. It's a job to work out who's 'taking back control'.

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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