EU – A European milk market monitoring board has said dairy prices appear to be stabilising and look to have hit a floor in some member states.
However, uncertainties lie ahead, particularly for reasons of milk quota abolition, Chinese buying and Russian import restrictions, says the Milk Market Observatory economic board.
It stated that dairy commodity prices have recovered since mid-January, taking most market actors by surprise.
A spokesperson said: “The strong milk production slow down, weak € supporting exports and drought declaration in some part of NZ were mentioned as tentative explanations by the MMO's Economic Board meeting on 24 February.”
TheCattleSite News Desk
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