Loading…
The Global Dairy Trade index rose 15.0 percent, its largest gain since November 2016 and its eighth straight gain. Whole milk powder rose 21 percent and butter 13.7 percent, while buttermilk powder was the only product to fall.
Traders attributed the jump mainly to Chinese buying, possibly for stockpiling.
A move of this size signals tight global dairy supply against strong Chinese import demand, which pushes up dairy product and milk prices. Higher dairy prices also tend to strengthen demand for dairy feed ingredients.
en.edairynews.comDamián MoraisMar 3, 2021After 112 past trade events, Milk (Class III) moved a median -0.1% over 5 sessions (44% higher; middle half -2.3% to +2.3%), and -0.2% 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.
Reports the largest GDT gain since 2016 driven by Chinese buying and stockpiling, a demand-side shock that supported US dairy futures.
