# Global Dairy Commodity Update July 2020 - EDairy News English

> Wholesale dairy markets rebounded from COVID-19 foodservice closures, with cheese and butter prices recovering on strong retail sales and government aid. The author expects a deep recession to weigh on western food spending and cheese demand, pushing more milk into powder production.

- Date: 2020-07-02 · published 2020-07-02T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52120-global-dairy-commodity-update-july-2020-edairy-news-english
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Weaker cheese and cream demand will shift milk into powder and butter, pressuring dairy product prices and keeping skim milk powder steady as stocks build.

## Read by commodity

- MILK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2022-07-04 | [Global Dairy Commodity Update July 2022 - EDairy News English](https://feedsoft.ai/events/8553-global-dairy-commodity-update-july-2022-edairy-news-english.md) | +1.4% | +0.5% |
| MILK | 2020-05-05 | [Global Dairy Commodity Update May 2020 - EDairy News English](https://feedsoft.ai/events/53130-global-dairy-commodity-update-may-2020-edairy-news-english.md) | +1.8% | +5.7% |
| MILK | 2020-08-04 | [Global Dairy Commodity Update August 2020 - EDairy News English](https://feedsoft.ai/events/51638-global-dairy-commodity-update-august-2020-edairy-news-english.md) | -20.8% | -19.4% |
| MILK | 2022-07-07 | [What Do Recent Falling Feed Prices Mean For Dairy Producers? - EDairy News English](https://feedsoft.ai/events/8551-what-do-recent-falling-feed-prices-mean-for-dairy-producers-edairy-news-english.md) | +1.5% | -10.0% |
| MILK | 2023-03-17 | [As commodity prices slide, dairies brace for collapsing farmgate milk prices](https://feedsoft.ai/events/36864-as-commodity-prices-slide-dairies-brace-for-collapsing-farmgate-milk-prices.md) | +0.6% | +3.4% |

## Sources

- en.edairynews.com: https://en.edairynews.com/global-dairy-commodity-update-july-2020/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.