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Analyst James Carr of StoneX Financial said 2020 dairy markets were highly volatile after foodservice sales collapsed and government purchases lifted prices. He expects that without government buying, US demand will not support current milk output and prices, so margins are likely to shrink in 2021.
If government purchases fade as expected, lower milk prices and tighter margins could slow herd growth and reduce demand for dairy-based feed inputs later in 2021.
capitalpress.comCAROL RYAN DUMASCapital PressDec 19, 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.
