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The GDT price index fell 3.5% at the latest auction to US$3105, its lowest since April, as whole milk powder dropped 5.5% and butter fell 3.6%. Skim milk powder recovered, and North Asian buyers purchased less overall.
Declining WMP prices and lower Asian buying weaken dairy commodity prices and milk price forecasts, with Chinese buyers possibly having finished stocking ahead of January tariff changes.
nbr.co.nzNov 8, 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.
