U.S. dairy farmers got what they asked for in a new version of the North American trade agreement. U.S. dairy producers say additional support that Canada implemented for its dairy farmers last year has also flooded global markets with cheap powdered milk. Dairy is a small piece of overall trade between Canada, the U.S. and Mexico. The U.S. exported $637 million worth of milk, cheese and other dairy products to Canada in 2017, according to the U.S. Department of Agriculture. “The deal is absolutely seen as a step in the right direction for U.S. global dairy trade,” said Dave Kurzawski, a Chicago-based senior dairy broker at INTL FCStone.

Source: Wall Street Journal October 01, 2018 16:30 UTC