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AHDB reports EU wholesale dairy prices diverged, with SMP and WMP rising over the year, cheese steady and butter declining. Tight EU skim milk powder supplies followed lower production and a 28 percent rise in exports.
Butter availability grew about 2 percent over the 12 months to September, mainly held in stocks, as food manufacturers shifted away from butter.
Tight EU SMP supply supports higher skim-based dairy prices, while rising butter availability pressures butter values lower, a mixed signal for dairy-based feed ingredients.
ahdb.org.ukDec 4, 2019Not 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.
