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Rabobank's Q2 2018 dairy quarterly reports that most dairy commodity prices rallied in the second quarter, with butter and cheese demand buoyant. Combined milk supply from the Big Seven exporters grew only 0.5% year on year, the slowest since late 2016.
Butter prices in Europe have risen but remain below their 2017 records.
Slower export milk supply growth combined with firm butter and cheese demand supports dairy prices, which lifts the cost of dairy-based feed ingredients and milk-replacer inputs.
foodingredientsfirst.com18 Jun 2018Jun 18, 2018After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
