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China's raw milk price has recovered to RMB3.36 per kg, according to eFeedLink. The national dairy cattle system's chief scientist expects prices to keep recovering in the fourth quarter.
The dairy herd has shrunk to 5.8 million head.
A shrinking Chinese dairy herd and firmer milk prices point to lower dairy feed demand over time, though the effect on feed commodity prices is small. Recovering milk margins may support some feed buying in the near term.
Not 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.