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Weekly milk market review notes EU raw milk prices rose 0.8% in August to about USD 0.58/kg on tighter supply, but butter and SMP prices are collapsing. SMP in Western Europe has fallen to nearly 10% below last year's levels after high Q2 inventories.
Falling finished-product prices in Europe squeeze processor margins and signal weaker dairy ingredient demand, adding bearish pressure on milk values.
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.