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The GDT price index fell 3.9% to US$3,463 at the first auction of 2017, its second consecutive decline. Whole milk powder prices unexpectedly sank as more volume was offered.
Higher offered volume with weak demand points to lower global dairy returns and softer milk prices.
nzherald.co.nzOtago Daily TimesJan 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.
A second consecutive GDT decline with more volume offered reinforced bearish global dairy sentiment.
