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Class III milk futures were mostly higher on June 1, 2016, with contracts supported by an oversold bounce. The Global Dairy Trade index rose 3.4% at its latest auction to $2,329 per ton, led by butter milk powder and skim milk powder gains.
The GDT rise, the fourth increase in five auctions, suggests firming global dairy demand that supports US milk futures and dairy feed ingredient values.
brownfieldagnews.comJohn PerkinsJun 1, 2016Not 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.
Class III futures rose on an oversold bounce and a 3.4% GDT index gain, which signaled stronger global dairy demand and sentiment support.
