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The Global Dairy Trade price index fell 3.9% at the first auction of 2017, to an average of $3,463 per tonne. Whole milk powder dropped 7.7% after Fonterra announced a 5% production increase, and buyers were scarce.
Extra milk powder supply met thinner bidding, which pressures global milk powder and milk prices lower. The drop tempers the 50% rally of 2016.
indianexpress.comKrati JoshiJan 3, 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.
GDT index fell 3.9% as Fonterra signaled 5% higher production and buyers were scarce, pointing to global supply pressure that can spill into US dairy futures.
