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Welcome to the latest edition of our newsletter – packed with insights and updates from across the dairy world. We begin with ‘Market Direction’, where we explore the latest trends shaping global milk production. In this issue’s ‘Deep Dive’, we take a closer look at the contrasting dynamics of skimmed milk and butter, and what they signal for the market. Our ‘Quick Note’ section brings you sharp takes on US whey, the US-China tariff impact, and a focused piece on CME Futures by Neil Hunt, Derivative Trader at HTM. In ‘World Comment’, we hear from Danny Prangsma, Senior Account Manager at Dairy Essentials Europe, who shares his perspective on the evolving European landscape. Finally, we celebrate a milestone in ‘Hoogwegt Happenings’ with the successful completion of our annual Skal Organic certification—a testament to our commitment to quality and sustainability.