date:Feb 22, 2019
ock turnover. Gradual recovery in overall trade, highly conditional on prices in developing regions.
Whole Milk Powder
Values largely driven by butter and SMP stream returns, weakened by increased NZ and Latam availability. Moderate growth in NZ milk supply in 2018/19 appears priced into futures/GDT.
Whey
US market drastically weaker in response to slower Asian demand and slower output of WPC products. African flu in Chinese pig herd may pressure feed demand. Weaker whey and animal feed prices