Greg's Milk Monitor 7 February 2025: Status quo maintained

This is the second time I have referenced the gentlemen above in these columns, the last time being when the milk powder market was 'deeper and down’, but this week we see a repeat of unchanged published prices for both whey and skim, yet the real world of provisioning factories is paying yet more to secure physical supplies. The latest theory emerging is that traders spent the late autumn stockpiling long books, which are now being dribbled out at inflated prices, but it would be in the traders' interest to inflate traded prices, not wilfully post them as unchanged. 

WPC and Fat-Filled Whey are both still rare as hens’ teeth, exacerbated by the foot and mouth outbreak in Germany, which is in turn plunging German sweet whey prices, as exports of animal products are still banned in the wider EU and UK, which the below graph demonstrates.

Background markets remain broadly unchanged, the soy complex has been up, down and sideways on rains arriving too late for Argentina, and too much in Mato Grosso, balanced against continued reduced demand from China, trading tariff blows with the US. Palm oil is inexplicably stronger, citing better prospects for biodiesel demand in a world that seems to be going in the other direction.

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

Greg's Milk Monitor 20 February 2025: Market still unchanged?

Yes it is, both markets; the quoted values and the real buying prices. Holland is still quoted unchanged, €910 for sweet whey (5 weeks) and €2450 for skim (8 weeks), whilst the actual purchasing minimums are €950 and €2550.

WPC and fat-filled whey are still incredibly difficult to source, and even buttermilk, the poor relation of skim, is commanding near-skim prices.

In other markets, soy oil had a virtually unchanged week, despite some wide daily trading ranges, and palm oil is still inexplicably high. The biggest unknown is how US tariffs and retaliatory taxes will affect the markets now the disrupters are in charge. 

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

Greg's Milk Monitor 30 January 2025: Something funny going on

The needle seems to be stuck on the record (a euphemism from the days of gramophones, for younger readers) for both whey and skim, as the Dutch market is posted unchanged yet again, yet the real world is paying €30-40 more to secure spot supplies. Skim is little better, so why these headline prices are continually posted unchanged is verging on conspiracy. 

There’s no good news on anything else, either, as WPC and fat filled whey are both unobtainable. The only exception is hydrolysed gluten, which is an odd ‘un, as the major producer was closed due to fire last year, creating a shortage, but it is now freely offered, but the factory remains closed?!

Sales interest is still strong, production is now out to 5 weeks from order and getting longer, with securing raw materials an increasing headache for milk powder blenders.

Other markets are quieter, Trump’s plea to next week’s OPEC meeting to cheapen oil has pulled crude prices close to $70 again, and the improving harvest weather in Brazil is balancing the dry conditions in Argentina to leave the soy complex broadly unchanged, with palm oil following suit.

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