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Economist Ken Bailey told the Dairy Financial and Risk Management Conference that US and global dairy demand is suppressed by Federal Reserve rate hikes and slowing growth. He forecasts real GDP growth slowing to 1.9% in 2023 and 0.5% in 2024, and higher dairy prices only once demand recovers around 2025.
Expectations of weak dairy demand through 2024 suggest limited price support for milk and reduced demand for dairy-feed ingredients.
dairyherd.comSep 28, 2023After 49 past bearish macro events, Milk (Class III) moved a median -0.6% over 5 sessions (33% higher; middle half -8.5% to +0.6%), and -7.5% over 20.
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.
