# MilkPrice: June 2016

> Following the UK vote to leave the EU on June 23, 2016, commentary is weighing how Brexit could affect US dairy prices. The article notes that the US imports dairy mainly from the EU and New Zealand, and that a strong US dollar would make US dairy less competitive abroad. It also points to uncertainty over the euro.

- Date: 2016-06-26 · published 2016-06-26T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4208-milkprice-june-2016
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

Currency moves change the competitiveness of dairy exports and imports, which shifts inventories and prices in a market already carrying excess global supply. A weaker euro and a stronger dollar would pressure US dairy prices.

## Read by commodity

- MILK: bearish ▼
- EURUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2020-11-06 | [A milk price forecast amid a pandemic](https://feedsoft.ai/events/50305-a-milk-price-forecast-amid-a-pandemic.md) | -0.8% | -34.7% |
| MILK | 2020-04-24 | [10% too much milk forces prices to plummet](https://feedsoft.ai/events/6501-10-too-much-milk-forces-prices-to-plummet.md) | -13.8% | -7.5% |
| MILK | 2017-04-20 | [Dairy price outlook falters, remains better than 2016](https://feedsoft.ai/events/71639-dairy-price-outlook-falters-remains-better-than-2016.md) | -0.2% | +2.5% |
| MILK | 2021-07-07 | [What does inflation mean for milk prices? - Dairy Producer](https://feedsoft.ai/events/46216-what-does-inflation-mean-for-milk-prices-dairy-producer.md) | +0.7% | -1.8% |
| MILK | 2023-03-17 | [As commodity prices slide, dairies brace for collapsing farmgate milk prices](https://feedsoft.ai/events/36864-as-commodity-prices-slide-dairies-brace-for-collapsing-farmgate-milk-prices.md) | +0.6% | +3.4% |
| EURUSD | 2016-06-28 | [IFA Says Brexit Concerns Must Not Influence June and Further Milk Price Decisions - Irish Farmers' Association](https://feedsoft.ai/events/4213-ifa-says-brexit-concerns-must-not-influence-june-and-further-milk-price.md) | +0.5% | -0.4% |
| EURUSD | 2016-12-22 | [Economic Bulletin Issue 8, 2016](https://feedsoft.ai/events/73655-economic-bulletin-issue-8-2016.md) | +0.6% | +3.1% |
| EURUSD | 2020-08-21 | [Dollar beats euro for first week since mid-June after bullish data](https://feedsoft.ai/events/51826-dollar-beats-euro-for-first-week-since-mid-june-after-bullish-data.md) | -0.3% | -0.0% |

## Sources

- milkprice.blogspot.com: http://milkprice.blogspot.com/2016/06/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.