Loading…
Whole milk powder prices at the latest GlobalDairyTrade auction rose 4.2%, the biggest percentage gain since April. Fonterra cut its New Zealand seasonal milk collection forecast to 1,480 million kg of milksolids because of dry conditions in major dairying regions.
Drought-reduced New Zealand milk output tightens global whole milk powder supply, supporting dairy prices and the farmgate price forecast. Buyers of dairy-based feed ingredients should expect firmer prices if dry weather persists.
farmersweekly.co.nzHugh StringlemanJan 4, 2018After 32 past bullish weather events, Milk (Class III) moved a median +0.1% over 5 sessions (50% higher; middle half -0.7% to +3.4%), and +3.2% 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.
