The FAO Dairy Price Index - August 2016
The FAO Dairy Price Index averaged 154.6 points in August, up 12.3 points (8.6 percent) from July and around 14 percent from last year. Prices rose for all the dairy commodities that compose the Index, in particular for cheese, whole milk powder and butter. The latest increase confirmed a notable change in market sentiment, as falling milk production in the EU, coupled with an unexceptional opening to the dairy year in Oceania, pointed to tighter export supply prospects than had been earlier anticipated. Skimmed milk powder quotations were muted, supported by large EU intervention stocks, which were seen as a potential future source of supply.
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