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Retail dairy sales stayed well above year-ago levels through mid-May, up 25% versus 14% for overall grocery sales. Milk sales were 43% higher and cheese 76% higher in the March 8 to March 22 stockpiling period.
Consumers continued to rely on dairy as their main source of comfort foods after the initial panic buying.
Sustained retail demand for dairy supports cheese and milk prices, though the size of the gains may fade as stockpiling unwinds.
ocj.comBrianna SmithJun 3, 2020Not 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.
Strong retail dairy demand, with milk and cheese sales far above year-ago levels, supports the demand-side drivers behind the cheese price surge.
Strong retail dairy demand (milk and cheese sales well above year-ago levels) supports bullish sentiment and demand-side buying, though it is background rather than a same-day trigger.
