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Dairy economists at the University of Wisconsin say the pandemic has turned dairy markets upside down. USDA reported February milk production up 1.7% year over year, and dairy exports have hit port bottlenecks.
Powder prices have fallen from a futures forecast of $1.25 to about $1 per pound, and May Class IV futures are down $5 per hundredweight since mid-January.
Weaker powder demand and rising milk output reduce dairy prices and pressure milk-based feed ingredients. Export bottlenecks limit the outlet for surplus U.S. milk powder.
capitalpress.comCAROL RYAN DUMASCapital Press25.03.2020Nach 49 vergangenen Ereignisse (bearisch, Makro) bewegte sich Milch (Class III) im Median über 5 Handelstage um -0,6 % (33% höher; mittlere Hälfte -8,5 % bis +0,6 %) und über 20 Handelstage um -7,5 %.
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.
Late-March coverage of pandemic demand disruption, with production up and export bottlenecks, set up the bearish supply/demand backdrop and weighed on dairy futures.
