The biggest news this week is that the market didn't go up. Indeed, sweet whey even dipped in the Netherlands.
In a market news vacuum, one can only hypothesise, and last week's comment about throwing in the towel may have been timed about right, as those who were tempted to buy bought, and those who didn't believe in the hike didn't. Result: fewer buyers in the market, and more sellers tempted out = peak milk powder. At least, I hope my reading is right, and we won't see it gallop high again in the coming weeks.
What suggests it won't crash and burn is the high prices paid by the middle market for the intervention skim milk, so decline is more likely to be gentle than precipitous.
And we managed to hang on to stronger sterling despite the push-me-pull-you votes in the Commons yesterday.
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 email@example.com