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Dairy product prices rose 6.6% at the August 2 Global Dairy Trade auction, averaging US$2,436 per tonne on 34,928 tonnes sold. Whole milk powder rose 9.9% and rennet casein 16.3%, while cheddar fell 0.8%.
EU milk production continued to slow, with January to May output up 4.5% year on year.
Slowing EU and global milk output combined with a strong auction lifts dairy prices, supporting higher costs for dairy-based feed ingredients.
agriland.ieAmy FordeAug 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.
