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The first GDT auction of 2017 saw prices fall 3.9%, with whole milk powder down 7.7% and skim milk powder up 2.3%. Irish co-ops are expected to raise milk prices after EU milk output fell significantly.
A steep EU milk output drop after culling supports European dairy prices, which partly offsets the global auction decline.
agriland.co.ukAmy FordeJan 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.
The first GDT auction of 2017 fell 3.9% with whole milk powder down 7.7%, a sentiment and global price signal that likely weighed on US Class III futures.
