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Global dairy auction prices averaged $1.64 per pound, down from $1.95 a year earlier. Higher milk output in the US, parts of South America and Europe is bringing supply back into balance, while New Zealand production remains weak.
Butter stock declines have slowed.
Global dairy prices have peaked and are easing as production rises, pointing to softer milk and dairy product prices into 2023.
farmprogress.comFran O'LearyDec 19, 2022Not 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.
