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The Global Dairy Trade price index rose 2.8 percent at the auction, its third consecutive gain, with an average of US$2,986 a tonne. Almost all products rose, with butter milk powder up 9.3 percent and skim milk powder up 7.9 percent, while offer volumes fell sharply.
Lower offer volumes alongside rising auction prices signal firmer global dairy prices, which supports milk price expectations for dairy farmers and feed demand.
newsroom.co.nzMargreet DietzJan 2, 2019Not 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.
The same GDT result, with sharply lower offer volumes and a third straight gain, points to tightening global supply and supports US dairy futures.
