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Several UK processors have cut farmgate milk prices for five straight months, with May values down almost 30% from the start of the year. Farmgate prices of 35-40p per litre sit below estimated production costs of 40-45p.
Processors cited limited demand and rising supply across Europe, and wholesale values for cream, butter, SMP and cheddar fell in April.
Falling European dairy wholesale values and weak demand are pushing milk prices lower, which reduces dairy farmers' incomes and could cut dairy-related feed demand.
fwi.co.ukCharlie ReeveMay 3, 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.
