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The FAO Food Price Index rose for a third straight month to a 31-month high, with the FAO Dairy Price Index up 3.6% in July and 52.2% above June 2016. Butter reached a record $6,100 per ton in Europe as tighter export availability pushed prices higher, while cheese exports stayed firm.
Record butter prices and firm cheese demand lift global dairy values and tighten export supply, though falling whole milk powder prices and expected higher second-half butter output may cap further gains.
dairyreporter.comMary Ellen ShoupAug 2, 2017After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% over 20.
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.
FAO data published 2017-08-02 showed dairy prices up 3.6% in July with record European butter prices, supporting bullish global dairy sentiment and tighter export availability.
