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The GDT index fell 3.9% at the first auction of 2017, driven by a 7.7% drop in whole milk powder. Australia's milk output hit a 20-year low and New Zealand's fell 4.5%, while First Milk raised its January A price by 2p per litre.
Price falls amid tight Southern Hemisphere supply show the drop is a short-term adjustment, which limits the downside for milk prices.
fwi.co.ukJack YatesJan 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.
