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Chinese consumers are buying more dairy products in baked goods and beverages, lifting global dairy demand. Skim milk powder prices rose 26% to 47% in the US, Europe and Oceania over the past year, and October's average reached its highest level since 2014.
Strong Chinese import demand supports global milk powder prices and benefits exporters such as New Zealand, while the US is a minor supplier to China.
axios.comJacob KnutsonNov 5, 2019After 41 past bullish trade events, Milk (Class III) moved a median -0.1% over 5 sessions (49% higher; middle half -1.3% to +8.1%), and +1.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
