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StoneX analyst Nate Donnay estimates that US government dairy purchases in 2020 pushed the CME block cheese price up about 64 cents per pound and butter up 31 cents from May through November. He estimates the purchases lifted the average Class III milk price by about $6.30/cwt and Class IV by about $1.31/cwt.
Purchases through the food box program and other programs totaled roughly $1.33 billion.
Government buying has been a major source of dairy price support and volatility, so feed buyers should expect dairy-linked demand and milk prices to be sensitive to any reduction in these programs.
hoards.comNate Donnay, StoneX Group Inc.30.11.2020Nach 17 vergangenen Ereignisse (bullisch, Politik) bewegte sich Milch (Class III) im Median über 5 Handelstage um -0,6 % (29% höher; mittlere Hälfte -1,6 % bis +0,2 %) und über 20 Handelstage um -3,0 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
Shows government food box purchases had inflated cheese and Class III prices, so their fading removed support and fed the reversal.
