SWP
Whey powder prices continue to move higher but the upward trend in WPC-80 appears to come to an end
Europe
A lot of post-holiday activity in the whey market
The whey powder market turned very active in the last couple of weeks and the price direction was generally upward. Feed whey for instance went up to EUR 1710 for prompt and EUR 1750 for Q4, delivered Netherlands. Food whey prices did not change that much on the top end of the range where exportable brands still trade at EUR 2000 and above. It was the bottom end of the range that steadily appreciated from EUR 1700 last month towards EUR 1900 this month. All food whey prices are ex works. WPC-80 prices more or less stabilized at EUR 25-27/kg with a bit of a stand-off developing between suppliers and customers. Some inventories appear to get carried forward into Q4 but there also is latent WPC-80 demand that still needs to be covered before the end of the year.
Americas
Dry whey prices are moving higher despite the WPC-80 market loosening
With the help of the EU market moving higher and strong Asian import demand US prices of dry whey appreciated to USD 0.69-0.72/lb (1520-1585/t) for lower tier origins and USD 0.85-0.90/lb (1875-1985/t) for top tier brands. Supply is limited and spot offers are hard to find. The price difference between EU and US feed whey currently allows for some US exports into the EU. WPC-80 prices are finally giving in somewhat after many months of uninterrupted increases. The market feels loose at the moment and some end customers even sell some positions for 2027 back. US prices at USD 11-11.50/lb (24-25/kg) are now significantly below EU price levels.
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