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The Global Dairy Trade price index rose 1.2% at the latest semi-monthly auction, with skim milk powder and whole milk powder higher while cheddar, mozzarella, butter and anhydrous milkfat fell. The index has risen in five of the last six auctions.
Stronger powder prices support export demand for US skim and whole milk powder, while weaker cheese and butter prices signal limited upside for US Class III and IV returns.
Not 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.