DCA benchmarks: Powder commentary week 25

European powder markets remained under pressure in week 25 (June 18), with all major DCA powder benchmarks recording declines amid weak demand and limited trading activity. SMP posted the sharpest losses among milk powders, while WMP proved more resilient despite a generally inactive market. The whey complex also moved significantly lower, reflecting continued pressure in international markets, whereas lactose remained broadly stable. Contributors reported a cautious market environment, with buyers largely waiting for prices to decline further before returning to the market.