DCA Benchmarks: Powder market commentary week 2

The dairy powder market showed a clear positive trend in week 2. Price increases were observed across most milk powders and food-grade whey products, while feed-grade whey moved slightly lower.Milk powders strengthened across the board. SMP Food increased to €2,055 per ton in NWE (+€60), with similar upward movements in Germany and the Netherlands/Belgium. Price behavior was consistent, reflected in low volatility, with standard deviations between 1.3% and 1.9. SMP Feed (NWE) also increased to €1,990 per ton (+€40). Although the number of observations remained below the minimum threshold, the standard deviation was limited (2.1%). WMP (NWE) rose modestly to €3,035 per ton. Despite limited input (5 observations), the benchmark showed very low volatility (1.2%), with prices tightly clustered between €3,025 and €3,050 per ton.In the whey segment, food-grade SWP posted notable gains. SWP Food (NWE) increased by €55 to €1,145 per ton, with a higher volatility than milk powders (sDev: 2.4% to 3.2%). However, SWP Feed (NWE) declined by €10 to €1,025 per ton, with very low volatility (1.1%), indicating a stable but softer feed market.Lactose (NWE) increased to €1,225 per ton (+€50). Only two observations were received for this benchmark, despite an extremely low standard deviation (0.3%). FFMP received only one input, with no benchmark published this week. Contributor sentiment was cautiously positive, particularly for SMP, WMP, and food-grade whey, supported by export demand and improved international competitiveness. That said, several participants noted low liquidity and limited spot activity.