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Latest From Matthew Pendered
US butter prices have continued to rise, on the back of steady – but not spectacular - production figures.
EU dairy futures rose across the board this week, as Oceania and US dairy futures slid back.
US butter and cheese prices moved upwards across the board this week.
Both US and international prices were on the rise this week. Oceania prices of skimmed milk powder (SMP) were up from 0.828 to 0.862 USD/lb, and those of dry whey powder were up from USD0.27 to USD0.28/lb.
US dairy prices rose across the board over the last week, reflecting stronger market sentiment.
Latest 2016 US milk production figures forecast to drop this year.