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Speakers at the Dairy Industry Newsletter conference in London said dairy commodity prices are likely to rise, citing over 40,000t of skim milk powder sold from EU intervention and stocks falling from about 400,000t to nearly 300,000t. A US speaker expected US supply growth of about 1% and butter and cheese demand up 2% this year.
Falling intervention stocks and expected tighter supply support higher SMP, butter and cheese prices, which benefits dairy-based feed ingredient values.
farmersjournal.ieJack KennedyMay 24, 2018Not 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.
