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Global dairy markets are mixed, with prices firm in Europe and Oceania but softening in the US and China. US milk supply remains high, and the weaker dollar is boosting US butter export competitiveness.
Skim milk powder prices are trending lower, and European deliveries are still affected by bluetongue disease.
Ample US supply and weak Chinese demand point to lower dairy ingredient prices, although tighter European supply limits the downside.
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.