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Rabobank expects world dairy prices to hold steady through 2017, with butter prices high at about $4,750/tonne on the GDT platform while skim milk powder remains weighed down by over 350,000 tonnes of EU intervention stocks. Global milk output is falling, but the decline is easing.
Divergent fat and protein markets and large EU stocks cap protein-based dairy values, while tight butter supplies keep fat prices firm, shaping feed demand for dairy rations.
farmersweekly.co.nzHugh StringlemanApr 11, 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.
