A turn around for the better?
EU powder prices reported by the EU MMO and average spots in the Netherlands, Germany and France have resumed their increase. SMP spots have now broken the €2000/t barrier, with average EU prices close behind. Butter prices, on the other hand, are somewhere between stable and slightly easier. On the international stage, GDT is on its 11th consecutive positive auction.
Is global scarcity impacting prices? Is intervention SMP finally working its way through the market place, after leaving EU stocks in recent months? Is the kicking of the Brexit can to next Halloween at least buying us time of normal trading conditions, at best making a crash out Brexit less likely?