Greg's Milk Monitor 05 09 24: History repeating, again?

Skimmed milk up €70 (3%), sweet whey up €40 (5%). Skim has now risen from €220 in seven short weeks and whey by the same amount, and it really does appear trader-led, but processors are delighted to sell into the rise. There will likely be tears before bedtime when the traders pull the plug and force the market lower, leaving the processors with increased stocks, and buyer reluctance that usually kicks in when the market starts to slide. And yes, this is precisely what happened last time, and it took a month of Sundays for the stocks to clear, very expensively for the processors.

Other markets are quiet, crude oil has just tipped into the high $60s, but dodgy weather models for the Midwest have supported soya running up to the corn and soya harvests, so some temporary support for beans, meal and oil. Palm stocks are building and ringitt strength have been ignored as prices hold steady..

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 [email protected]