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Global Dairy Trade prices fell 2.9% at the February 18 auction after a 4.7% drop on February 4, with anhydrous milkfat down 5.5% and skim and whole milk powder down 2.6%. Traders cite concerns over the coronavirus outbreak, and China opened applications for tariff exemptions on 696 US products including soybeans and pork.
Continued dairy price weakness reduces returns for dairy feeders, while China's tariff exemptions could support US soybean export demand and prices.
capitalpress.comLEE MIELKEFor the Capital PressFeb 18, 2020Not enough comparable past events yet for a historical read.
Not 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.
