Precisely as forecast four weeks ago by Germany’s processors, prices for milk and most of its by-products rose sharply in retail outlets during the first few days of August.

The forecast 10% increase in drinking milk was surpassed by a few cents, with most outlets averaging 62 cents per litre for the full fat pasteurised product, up from 55 c/l. Skimmed milk was generally retailing at around 55 c/l in the first few days of the month, compared with 48-49c/la month ago.
But it was butter that grabbed the headlines, with the