Perhaps skim and whey have run out of runway for this cycle of manipulation, both unchanged in a week that has seen more buying than selling, as the order book is now well out into mid January. However, that is not the whole story, as although the sarsen stones of the dairy industry remain unchanged (and guess who has been stuck on the A303 this week gawping at Stonehenge), following on from last week’s rises, buttermilk has risen €200, whey permeate by €150 and whey protein concentrate by €150. So I don’t think any recent purchases will look embarrassing until deep into Q1 at least.
Background markets are broadly unchanged, beans, meal and soy oil all broadly unchanged, not what one would expect in a week that forecasters foresee the largest crop the planet has ever seen, and absent from the arbitrage the trading tribe require. The notable exception is palm oil, which has returned to its 5000 ringitts peak as heavier than usual rain is depleting Malaysian inventories.
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
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