DCA Benchmarks: Milkfat commentary week 49

Butter, cream, and AMF are once again losing significant value this week. Cream and butter are trading at almost the same price level, which is unusual for this time of year. German butter currently sits at the top end of the price range in Northwest Europe, although the difference with other origins is small. Regarding AMF, the spread in price inputs of €500 per tonne is quite large.