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The Global Dairy Trade auction event 280 closed with its price index down 3.8%, with WMP down 6.2% and butter down 2.8% while AMF rose 3.7%. Iowa State's dairy outlook also republished the March WASDE note that corn and soy supply and use were mostly unchanged.
A lower GDT index signals softer global dairy export prices, which can weigh on milk prices and dairy-based feed demand. The effect on feed ingredients is indirect.
blogs.extension.iastate.edunwiadairyoutlookMar 17, 2021Not 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.
