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Rabobank analysts expect dairy prices to recover slowly over months, not weeks, as cheese prices weakened through the first quarter. Milk output is rising toward its seasonal peak, and Rabobank forecasts lower year-over-year output for the first two quarters before volume turns positive in the second half.
Global demand is showing signs of recovery but remains sluggish.
Lower milk supply is being offset by weak global demand and ample buyer inventories, so the price rebound is expected to be gradual. Feed buyers should expect dairy-sector margins to stay tight for some time.
hoards.comLucas Fuess, RaboResearch Food &, AgribusinessMar 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
