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Aggregate prices at New Zealand's Global Dairy Trade auction rose 0.9%, marking the sixth straight twice-monthly gain. Cheddar climbed 2.9% to $1.66/lb and skim milk powder rose 2.8% to $1.17/lb, its highest level in some time.
A sustained run of gains at the GDT auction signals firmer global dairy export prices, which supports milk values and dairy-linked feed demand.
aginfo.netFeb 27, 2019Not 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.
Sixth straight GDT gain with cheddar up 2.9% and SMP up 2.8% reinforces strong international dairy prices and export pull for US product.
The Feb 27 GDT auction gain (sixth straight, with cheddar up 2.9% and SMP up 2.8%) signals firmer global demand and trade-flow support for cheese and powder prices, a plausible sentiment driver on the move date.
