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New Zealand milk production rose 2.7% year on year in October 2017 to 3.12 million MT, and June-October output was up 0.93%. Fonterra kept its 2017-18 farmgate forecast at AUD 6.75 per kgMS, while Oceania butter and skim milk powder prices weakened.
Rising Oceania milk supply and softer butter and powder prices weigh on global dairy prices and reduce dairy-sector demand for feed ingredients.
news.clal.itCLAL TeamNov 15, 2017After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
