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Last Update This Summer

2 min read

    This update will be the last update we write until September. After a rollercoaster of H1, it is time to say goodbye in July, but we will remember to come back in September. As we are a small family-run business, and brokering takes up a lot of time, energy and focus, we have decided to charge our battery during to normally so quiet weeks of summer. We might have been mistaken, because the market is, up until yesterday, still very active. We will certainly be keeping one eye on the market, and if there are any questions for us feel free to send emails or a small WhatsApp message. But our main focus will be on the family, on a good book and some lovely glasses of wine (together with some nice cheeses and pieces of bread and butter). 

    But looking at the current market we are quite certain that opening one of the last emails from the last weeks should probably cover the sentiment of the market. Today again the sentiment remains bearish, demand is hard to be found, sellers are under pressure to lower their sales prices and prices for liquids are slowly trading lower. There is no expectation that this sentiment will change between now and mid-August. Next week's GDT will probably add some oil to the already negative market sentiment.

    A few things to watch over the next weeks when we will be absent are in our view:

    • Sentiment on GDT / Export Markets sentiment (next events we expect more downside)
    • The stock situation for butter / smp (how much will stock push prices down)
    • Euro/Dollar fx rate (important for export volumes, the dollar is getting weaker again, making export more difficult)
    • Chinees Demand (will they be back this year?)

    As said, we will be taking some downtime, but we are at your disposal if there are any issues or important questions. For market trades and demand and supply, we hope to be back at your side starting in September. For those we don't speak to regularly but who are reading our updates on a daily basis, we wish you a warm, sunny and relaxed summer! 

    Greating from Wouter en Kim Reijntjes, Get Fair Dairy! 

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