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USDA set the first Class III benchmark of 2020 at $17.05 per cwt, the highest January Class III since 2014. Global Dairy Trade prices fell 4.7% at the early-February auction as traders weighed coronavirus fallout.
The GDT decline and coronavirus-related caution point to softer global dairy demand, which may weigh on US milk prices.
hoards.comInterPuls acquires ADFFeb 7, 2020Not 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.
