SWP
US SWP at highest level in three years
Europe
High proteins remain favored destination of whey solids
The overall whey market remains driven by the strong demand for WPC-80 and WPI. This keeps the price of liquid whey above its corresponding SWP price. Food SWP is changing hands within a range that spreads from EUR 950 to EUR 1100 ex works for the top end brands. Feed SWP appreciated a bit after Christmas to EUR 950 delivered Netherlands for Q1 and EUR 965 for Q2.
Americas
Price appears to have reached a ceiling
SWP prices continue to appreciate due to the tightness in liquid whey availability. The standard food grade brands are currently traded at USD 0.74-0.75/lb (1630-1650/t) ex works. These prices appear to have reached a ceiling now where they may stay for most of Q1 as the supply and demand balance feels overall stable.
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