There is only so much one can write about skim milk powder in this compromised market, where two long holders continue to hold it to ransom, upping their demand between €30 and €50 per week. This week they decided to only make it €40 higher, and if and when an EU Commission investigation into a) why they sold the intervention stock so cheap, and b) whether this seeming cartel is totally illegal, it will be far too late to mend the damage wrought.
Traders are trying to ratchet whey prices higher on the back of skim, but supplies are plentiful and a cartel impossible, so we may see prices drift higher, and most probably won’t see a break in the market this side of the end of Q1, so covering that period now seems a reasonable bet.
Sterling remains surprisingly stable, as the acreage of election magic money tree planting has now reached forest proportions.
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 firstname.lastname@example.org