European Dairy Buyers Are Quietly Stockpiling Skim Powder

European dairy feed costs are rising because a drought-hit maize crop pushed corn to a premium over wheat and forced more imported protein into rations. Nate Donnay, StoneX Director of Dairy Market Insight, and John Lancaster, StoneX Head of EMEA Dairy and Food Consulting, explore what feed inflation and stockpiling are doing to European milk, butter and powder. Europe is a protein-deficit region for animal feed, so soybean meal from the Americas and higher shipping costs land straight in the farm cost base. Record skim milk powder exports read as strength until natural demand is separated from safety stock buying. 0:00 Feed Costs Bite Europe's Dairy 0:41 Corn Now Trades Above Wheat 1:31 Europe's Protein Import Bill 2:44 Silage Quality Falls in France 5:48 Butter Stocks Are Piling Up 7:47 Skim Powder Splits Opinion 9:18 Safety Stocks Drive the Buying 10:24 Freight Lifts Delivered Cost Discover Actionable Dairy Insights with StoneX Plus: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_john_lancaster&utm_content=share Like and subscribe for more financial market insights. #StoneX #JohnLancaster #Dairy #NateDonnay --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social