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USDA's world dairy review says butter prices rose 40% over 2017 and peaked at US$8,140 per ton in the EU amid shortages in some countries. Whole milk powder and skim milk powder prices fell 12% and 28%, and New Zealand exports dropped 19%.
Strong demand for milk fat and weak powder prices widen the butter-to-SMP spread, encouraging fat-focused output over skim solids. This keeps skim-based dairy feed inputs relatively cheap.
dairyreporter.comMary Ellen ShoupDec 20, 2017After 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.
