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The Global Dairy Trade price index rose 2.8% in the latest auction, following two earlier falls that totaled about 5%. Cheddar and whole milk powder led the gains, and Chinese and Middle Eastern buyers have returned to the market.
European buyers took their largest share of sales since 2021.
Returning import demand and a near-term floor for whole milk powder support global dairy prices. This supports milk-based ingredient values even though demand for skim milk powder is weaker.
farmersweekly.co.nzHugh StringlemanApr 3, 2024After 41 past bullish trade events, Milk (Class III) moved a median -0.1% over 5 sessions (49% higher; middle half -1.3% to +8.1%), and +1.1% 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.
