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Global Dairy Trade prices fell 3.5% at the November 7 auction, with whole milk powder down 9.3% for January shipment to US$2852 a tonne. AgriHQ cut its farmgate milk payout forecast to $6.24/kg MS, more than 50 cents below Fonterra's reconfirmed $6.75 price.
Falling WMP and butter prices weaken dairy commodity demand and pressure milk price forecasts, with Chinese tariff timing a possible factor in softer demand.
farmersweekly.co.nzHugh StringlemanNov 9, 2017Not enough comparable past events yet for a historical read.
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.
