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FrieslandCampina raised its June milk price by 0.25c/kg to 34.25c/kg, and Arla raised its price by 1c/kg. Spot dairy prices across Europe rose, with butter above €6,000/t and cheese and powders firmer.
The moves followed the EU sale of about 42,000t of skimmed milk powder from intervention.
Higher European farmgate prices and tight spot supplies indicate firming global dairy markets, though these are regional price moves.
farmersjournal.ieLorcan AllenMay 30, 2018After 147 past policy events, Milk (Class III) moved a median -0.1% over 5 sessions (46% higher; middle half -1.0% to +0.6%), and -0.2% over 20.
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.
Higher European milk prices from FrieslandCampina and Arla, with firmer spot butter, cheese and powders, point to global dairy price strength that can pull US Class III higher.
