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The Global Dairy Trade price index rose 6.6% at the August 2 auction, with whole milk powder up 9.9% and rennet casein up 16.3%. About 34,928 tonnes were sold, and the AgriHQ milk price rose 22c to $3.93 per kilogram milksolids.
Analysts linked the gains to slowing global milk production.
A broad auction rally driven by slower global supply points to firmer dairy prices, which can increase the cost of dairy-based feed ingredients.
nbr.co.nzAug 3, 2016After 41 past bullish trade events, Milk (Class III) moved a median -0.1% over 5 sessions (49% higher; middle half -1.3% to +8.1%), and +1.1% 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.
