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Rabobank reports that combined milk supply growth from major exporters slowed to 0.8 percent in the third quarter of 2018 and is expected to stay well under 1 percent in 2019. Drought in northwestern Europe and Australia reduced feed and forage output, while tight US farm margins and Dutch phosphate rules also reduce output.
Drought-reduced forage and feed supply plus slowing milk output tightens global dairy supply, supporting milk prices and higher feed costs for dairy producers.
capitalpress.comCAROL RYAN DUMASCapital Press2019/01/03過去の強気な天候イベント32件の後、牛乳(クラスIII) は5営業日で中央値 +0.1% 動き（50% が上昇。中央50%は -0.7% から +3.4%）、20営業日では +3.2% 動きました。
イベント直前の終値からの各商品ベンチマークの動き。過去の傾向は同種の過去イベントをまとめたものであり、起きたことを示すもので、今後を示すものではありません。投資助言ではありません。
Rabobank's report of slowing milk supply growth from major exporters, driven by drought, tight margins and Dutch phosphate rules, supports a tighter supply outlook and higher futures.
