SWP
Hardly any momentum in SWP at the start of the year but price appreciation in WPC-80 continues
Europe
Circumstances have not really changed in SWP
The EU SWP market remains stable at more or less the same price levels as last month. In Eastern EU SWP is changing hands at EUR 1080-1220 for food quality SWP and in the Western region prices are at EUR 1050-1150, both ex works. Feed SWP is still moving sideways, at prices around EUR 1030 delivered The Netherlands. Exports to the usual destinations – Korea, Japan and Indonesia – are OK without being exceptional. Prices for further out are slightly lower as concentrated whey availability is expected to improve even further. Drying capacity remains a bottle neck for better SWP availability. The other limiting factor remains the pull of whey concentrate into WPC-80 where prices are around EUR 14000 currently.
Americas
Prices are stable but sustaining these levels appears challenging into Q2
The US SWP market is still quiet at the start of the year. Prices remain in the USD 0.70-0.75/lb (1545-1585/t) ex works range. Futures indicate more weakness down the road as the 2026 peak season approaches. Buyers seem to be holding off at the moment. Since US origins also lose out to EU product in export markets the anticipated market weakness is understandable. WPC-80 prices are expected to continue to slowly appreciate since demand appears unstoppable.
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