SWP
Trade is waiting for post-holiday activity to start and provide a new impulse to the market
Europe
Feed whey prices resume their upward momentum
After last month’s dip in prices the feed whey market was silent for a while. When trade activity resumed in early August feed whey prices continued their upward trajectory. Feed whey is priced at EUR 1470 for prompt and EUR 1500-1550 for Q4, delivered The Netherlands. The food SWP market is stable with some tightening at the bottom end of the trading range as near term availability is limited. Most food whey changes hands at EUR 1700-2000 ex works. WPC-80 is currently mostly trading in the EUR 25.5-27.5/kg range, with lower tier product trading around EUR 25 and quite a wide trading range for spot trades as we are waiting for trading activity for Q4 to really kick off.
Americas
Both export demand and local US supply appear to slow down
US dry whey has been the preferred option for most Asian buyers for quite a while but demand finally weakened somewhat in early August. Prices did not really react yet and remained in the range of USD 0.80/lb (1765/t) for top tier brands and about USD 0.67/lb (1475/t) for lower tier origins. This was mainly because offers by suppliers decreased as well. The WPC-80 price finally seems to give in a bit. WPC-80 was so in demand that prices more or less aligned with WPI for a while, but the normal spread has returned again. Offers for September and October are now mostly in the range of USD 12-12.50/kg. All prices are ex works.
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