Skim continues its long march north, and it doesn't look like it's reached the peak of this mountain yet. China waded in for some large tonnage this week, on top of last week's Algerian and Cuban purchases, as the country rebalances its meat demand from pork to beef. Only a modest €20 up this week, but a whopping 53% higher than a year ago.
Whey is sneaking up behind, but is far more likely to break sooner, given copious supply and muted demand. It is up similarly €20, but taken over the past five weeks, it has risen €70, which looks entirely trader-driven, given the weak fundamentals.
Currency is about the only good news, as the money markets view events in Westminster more favourably than does the right wing gutter press.
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