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The Global Dairy Trade index fell 0.5 percent at Tuesday's auction, its first overall decline since September, with anhydrous milk fat and butter down while whole milk powder and skim milk powder were mixed to higher. CME Class III milk futures also slipped, with December at $19.34 per cwt.
Weaker fat prices at the GDT auction and softer Class III futures point to somewhat lower dairy ingredient values for feed buyers, though the decline was small.
brownfieldagnews.comLarry LeeDec 3, 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.
GDT fell 0.5% on 2019-12-03 with butter and milk fat weaker, and CME Class III futures slipped that day, signaling softer global demand and sentiment ahead of the 12-04 drop.
