Greg's Milk Monitor 14 November 2024: The view from the booth
Well that was a surprise - sweet whey up €20, skim milk €30. But why? I include the above picture as this is the Lacto Production stand at Eurotier in Hannover, and no fewer than six traders called by relaying the same news; someone somewhere has paid €960 for Q1 whey. This always happens at these bourses, funny how trader gossip never brings the market down!
Out in the real world, offers of whey have reduced, but skim is still readily offered at unchanged levels, so there is still no real feeling for a runaway market.
Interesting to see sweet whey finish the year, bang on the same price three years running.
It was also interesting to see how the mood changed in agri markets to Trump retaking the throne. Soy oil shot up on the prospect of extra tariffs, but then fell back when folk realised that climate-change denying was going to plunge demand for biofuel as mandates are likely to be dumped. Likewise palm oil, which had got to ridiculous price levels, and have only just come off the top by a piddling amount.
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