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Rabobank's Dairy Quarterly says global farmers are cutting production in response to protracted low milk prices. Excess stocks were estimated at 7.5 percent of trade volumes among the Big 7 exporters, and demand growth remains slow.
Production cuts and short-term butterfat demand support prices, but oversupplied protein markets and high stocks limit recovery until 2017. A weaker euro after Brexit may pressure prices elsewhere.
agproud.comDave NatzkeJul 2, 2016Not 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.
