DCA Benchmarks: Powder market commentary week 37

The NWE dairy powder market showed mixed results in week 37 (September 10), with milk powders benchmarks broadly stable, whey powder strengthening, and lactose moving lower. SMP remained particularly strong from a longer-term perspective, while whey powder extended its positive momentum, with both segments posting substantial gains compared with last year. Despite some weekly declines, most powder benchmarks remain well above year-ago levels, with WMP standing as the main exception.