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The chief executive of Arla warned of a looming butter and cream shortage in the EU because farmers cut milk output starting in 2016. Analysts cite drought in New Zealand and the US, falling output in Germany and France, and an EU scheme paying producers to limit production.
Wholesale butter prices in the UK reportedly rose sharply over the past year.
Tighter EU and Oceania supply of butterfat supports global dairy product prices and pulls up US butter and milk values through export demand. The price effect depends on whether farmers respond by expanding output.
fwi.co.ukPhilip CaseJul 14, 2017Not 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.
