Getting milk powders out of the way, skim rose €20 this week and sweet whey only €10. However, the opposite dynamic is in play, as one has to stump up €20-30 over the market to secure spot contracts for whey, whilst skim is easily discounted by roughly the same amount.
In the absence of anything much to write about in skim and whey, whilst looking round the markets this week, I noticed a perfect symmetry in the price graph for US soybean oil, in July and November (for readers of fewer advanced years, Twin Peaks was a bonkers US gothic horror mystery from the early 90s, and I suspect not worthy of revisiting). The graph reveals hitting peaks of nearly 50 cents early in the month, and barely over 40 cents by the end, the first being a weather market, the second a geopolitical one. I mention this as bean oil and palm oil have diverged dramatically, the latter rising a good 5% in the last ten days on excessive rainfall in Indonesia.
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
Comments