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Maxum Foods' August report says rising milk output in key producing regions is pressuring global dairy prices. The EU faces a hot, dry summer threatening feed availability, while US fundamentals are weakening with strong production and subdued cheese demand.
Global milk supply growth and weak US demand push dairy commodity prices lower, while EU drought could tighten feed supplies later in the year.
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.