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NMPF chief economist Peter Vitaliano says milk production is growing faster than dairy demand is recovering, making 2021 a difficult year for farmers. Dairy export demand is at record levels, and away-from-home dairy demand should rise as COVID-19 fades.
Dairy herd expansion has picked up to its fastest pace since 1998.
Output growth outrunning demand keeps dairy prices under pressure, though record exports and expected foodservice recovery are partial offsets.
nmpf.orgTheresa SweeneyFeb 8, 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.
