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The Irish Creamery Milk Suppliers' Association expects higher October milk prices after a 3% rise in the Global Dairy Trade index, led by whole milk powder up 5.9%. It also cited a 2.7c/L gain in the Ornua PPI to 40.9c/L and firmer European markets.
Stronger global milk powder auctions and firmer European commodity prices point to higher dairy ingredient values. Irish co-ops are expected to pass this through to farmgate milk prices.
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.