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Rabobank says growth in global milk supply accelerated in Q3 2017, pressuring dairy commodity prices across export regions. Butterfat has eased toward US$4,500 per tonne and skim milk powder remains depressed after the European intervention scheme closed.
Rabobank expects supply growth to continue into 2018, with easing prices and supply-containment efforts constraining it.
Heavy global milk supply and weak powder prices reduce the value of dairy ingredients and point to softer dairy prices into 2018. Lower milk prices can also lower dairy producers' feed purchasing power.
dairyindustries.comJan 2, 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.
