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Whole milk powder at the Global Dairy Trade auction averaged $2,864 per ton, the lowest since June 2020. The weighted index for whole milk powder fell 8% from the prior auction, and the all-dairy index declined 4.3%.
Falling global dairy auction prices signal weakening import demand, which weighs on export-linked milk prices. Feed buyers should expect continued softness in dairy-based feed ingredient values.
bloomberg.comTracy WithersAug 1, 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.
