International dairy prices show no sign of recovery

Much as anticipated, international dairy commodity prices failed to show any real signs of recovery through Q4. This is stated in the Rabobank Dairy Quarterly. Prices fluctuated during the period, but closed the 3 months to mid-December more or less unchanged in US dollar FOB Oceania trade. Prices for key commodities remain 20% to 50% below their 3-year average. While US dollar prices were unchanged, commodity prices firmed somewhat in most other currencies, as the greenback rose 1.4% on a trad