Welcome everyone to our latest market update and as we enter the peak summer months it is fair to say we have entered a period of stability in the dairy industry. Prices have been generally steady through most of 2019 and milk volumes appear to be healthy (if nothing spectacular) at the moment so this should continue over the summer. The political situation has also stabilised in the last few months due to the Brexit deadline extension to October so this is a period of rare calm. I hope all of our customers have enjoyed a successful 2019 so far and we hope to have provided you with a consistent stream of supply so far this year.
As we enter the summer flush period trading is calm and pricing is relatively static. However if we have learnt anything from the last few years it is don’t take anything for granted in the dairy industry. Buyers have been lulled into a false sense of security in the past and it would be foolish to bank on the current stalemate to last for too long. The current lull will be a concern to manufacturers but to put things into perspective the record high pricing of 2017 and 2018 was unprecedented so it isn’t a huge surprise to see a relative calm as the previous butter pricing was unsustainable for many large buyers. We are glad to have been able to offer our customers a period of stability as we realise the volatility of the recent past was very difficult to deal with at such short notice. We will keep everyone updated on any developments throughout the summer months and as always you can trust Ingredient Solutions to service your requirements no matter how difficult trading conditions are in the marketplace.