DCA Benchmarks: Liquids commentary week 27

DCA liquid dairy benchmarks recorded strong gains across all commodities in week 27, supported by a combination of tighter milk availability and strengthening market sentiment. Spot raw milk prices led the recovery, reaching their highest levels since September 2025, while skimmed milk, skimmed milk concentrate, and sweet whey concentrate also posted substantial increases. Contributors attributed the broad-based rally to lower milk collections following the recent heat wave and seasonal production declines, with additional concerns over the potential impact of El Niño on milk supply in South America and Oceania reinforcing expectations of a tighter global market later in the year.