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AHDB outlines conflicting forces in dairy markets for 2019, with EU and Australian milk output hit by weather and depleted feed stocks, and US growth slowed by tight margins. EU intervention stocks are expected to be sold by end-2019, which should support SMP prices, while weak butter demand is seen capping butter prices.
Tighter exporter milk supply and recovering SMP prices support dairy values, while weak butter demand limits gains. Depleted EU and Australian feed stocks also tighten feed demand dynamics.
ahdb.org.ukJan 9, 2019Not enough comparable past events yet for a historical read.
Not 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.
