It seems the entire milk processing industry has conspired to make me look a gibbering fool (not at all hard to do), by posting unchanged prices this week. The Dutch sweet whey market is allegedly €20 lower, but no sellers I’m aware of have discounted prices yet.

The significant fact is that whereas even producers were completely sold out last week, suddenly they’ve found spot production and are offering material again. This will no doubt upset the Arthur Daleys in the middle market, as they’ve only been able to secure minimal tonnages to sit on while running the market as high as they can, but it should indicate this bull run is running out of steam.

Sterling is basking in the headline news that the UK economy is expected to bounce back strongly in Q2 because of the vaccine rollout, but the solid basis for today’s strength is the BoE left interest rates unchanged, against rumours of a move to negative interest.

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