
Rabobank economist Mary Ledman says China remains an important buyer of U.S. dry whey, and each one-cent change in the whey price moves Class III milk by six cents. China has expanded milk output but not cheese production, so its whey import needs have had less effect on the U.S. than on New Zealand.
Changes in Chinese whey demand flow through to U.S. Class III milk prices, so trade shifts can move farm milk returns.
在过去 18 次中性的贸易事件之后,牛奶(III类) 在 5 个交易日内中位数变动 -0.4%(39% 上涨;中间一半区间为 -2.9% 至 +1.1%),20 个交易日内为 -3.0%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。
Whey price changes feed directly into Class III (1 cent whey moves Class III by 6 cents), so the whey rally amplified the Class III jump, though the article is general background.