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Dairy product prices at the Global Dairy Trade auction rose 11.4%, the second-largest increase this year. Whole milk powder led the gains with a 19.8% rise, while lactose and butter milk powder fell.
EU milk production fell 1.9% year-on-year in August 2016, the third consecutive monthly decline.
Lower EU and Oceania milk supply combined with strong whole milk powder demand tightens global dairy supplies and lifts dairy prices. Higher milk prices can also raise the cost of dairy-based feed ingredients for buyers.
agriland.ieAmy FordeNov 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.
