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The Global Dairy Trade price index rose 4.6% at the latest auction, with whole milk powder up 4.6% and butter up 3.8%, though whole milk powder remains 25% below a year earlier. Westpac economist Nathan Penny said it was too early to call a turnaround, citing weak Chinese demand.
A global dairy price recovery eases pressure on export-dependent producers, but weak Chinese import demand limits the scope for a sustained rebound.
en.edairynews.comDamián MoraisSep 20, 2023Not 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.
