Fundamentals remain unchanged,  and  buyers continue to cover their  immediate  needs.  Sellers are still reluctant to make large sales while waiting to see what peak milk volumes might mean for supply. International demand for West EU SWP  is steady, but Chinese pork prices continue to run at low levels, so Chinese pork producers are finding it challenging to cover the breeding cost on account of subdued pork prices, resulting in low expectations of price rises from China’s SWP demand. Also, considering the bearish market sentiment in the US SWP market,  the West EU SWP prices could correct back next week, according to market sources. However, a producer indicated, “SWP prices should bounce back to  April  price levels.” Therefore, there is still uncertainty about price direction, and there are no clear signals for the market to go on.

The East EU SWP spot prices steadied during the week. However, the Polish zloty strengthened, resulting in euro-denominated prices rising during the week. Meanwhile, EU high whey protein prices (WPC) and whey protein isolates (WPI) were stable, but market sentiment remained bearish. The MBP for Whey Protein Concentrate 80% Regular EXW EU [Mintec Code: WCREU] was assessed at €4,500/mt on 25th May, down €100/mt w-o-w. The MBP for Whey Protein Isolate 90% EXW EU [Mintec Code: WIEU] was assessed at €7,050/mt on 25th May, unchanged w-o-w.

Concentrate 80% Regular FCA (FOB factory) US [Mintec Code: WCRUS] was assessed at $2.20/lb on 25th May, up 2% w-o-w. The MBP for Whey Protein Isolate 90% FCA (FOB factory) US [Mintec Code: WIUS] was assessed at $3.50/lb, unchanged compared to last week.