EEX reports rising milk contracts
The European Energy Exchange (EEX) in Germany traded a total of 7,670 tons of milk commodity futures contracts in the middle of November, toppings its previous record of 6,190 tons per week at the beginning of September. The total amount covered 2,100 tons of butter, 5,020 tons of skimmed milk powder and 550 tons of whey.
On 16 November, butter for the 18-19 December was traded for €4,400 to €4,525/ton. Skimmed milk powder was €1,655 to €1,665/ton for 19 March, while whey for the first quarter of 2019 was €750 to €760/ton.
For the financial settlement of the new product EEX calculates the EEX European Liquid Milk Index. The risk management offer on the dairy market additionally includes financially settled futures on butter, skimmed milk powder and whey powder.