Loading…
StoneX dairy analyst Nate Donnay says the dairy cow herd grew by 93,000 head between June and December 2020, the fastest six-month expansion in over 22 years. Cheese and butter stocks ended 2020 well above year-earlier levels.
He expects weaker demand and less government support to push prices lower.
A larger herd and heavy product stocks point to sluggish milk prices, which weighs on the cost of dairy-based feed inputs.
hoards.comNate Donnay, StoneX Group Inc.Feb 10, 2021Not 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.
