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The AgriHQ 2016-17 milk price rose to $4.63 per kilogram milksolids after the GDT price index climbed 6.6% at the August 2 auction. Whole milk powder rose 9.9%, and most other dairy commodities also gained except cheddar.
Analysts said global milk output is slowing, and the NZ dollar's rise was offset by commodity strength.
Stronger dairy commodity prices driven by slowing global milk supply support higher milk returns, which can firm dairy-based feed demand and prices.
farmersweekly.co.nzNeal WallaceAug 2, 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.
