# 2020 dairy outlook update: COVID-19 consumption shifts upends profitability | FCC

> FCC Economics revised its 2020 dairy profitability outlook, noting COVID-19 closed food service outlets and cut demand for cream and cheese. Canadian producers P5 and Western Milk Pool cut butterfat production in April, and milk revenues for the first half were lower than January forecasts.

- Date: 2020-07-21 · published 2020-07-21T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/52123-2020-dairy-outlook-update-covid-19-consumption-shifts-upends-profitability-fcc
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Lower Canadian butterfat output and weaker first-half revenues point to tighter dairy supply and reduced feed purchasing power in Canada.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2019-01-21 | [Cornell Professor Shares 2019 Dairy Economy Predictions - EDairy News English](https://feedsoft.ai/events/61110-cornell-professor-shares-2019-dairy-economy-predictions-edairy-news-english.md) | -0.1% | -0.1% |
| MILK | 2026-04-21 | [What’s Driving a Better Dairy Outlook in the Second Half of 2026 - Dairy Herd](https://feedsoft.ai/events/19873-what-s-driving-a-better-dairy-outlook-in-the-second-half-of-2026-dairy-herd.md) | -0.0% | +0.6% |
| MILK | 2022-03-11 | [2022 economic state of the U.S. dairy industry - Progressive Dairy \| Ag Proud](https://feedsoft.ai/events/42283-2022-economic-state-of-the-u-s-dairy-industry-progressive-dairy-ag-proud.md) | -0.1% | +7.6% |
| MILK | 2021-12-22 | [US butter market shifting from abundance to scarcity \| Dairy Processing](https://feedsoft.ai/events/43597-us-butter-market-shifting-from-abundance-to-scarcity-dairy-processing.md) | -0.3% | +9.6% |
| MILK | 2019-01-16 | [Dairy and the cost of production in tough times \| UMN Extension](https://feedsoft.ai/events/61113-dairy-and-the-cost-of-production-in-tough-times-umn-extension.md) | -0.5% | -0.3% |

## Sources

- fcc-fac.ca: https://www.fcc-fac.ca/en/knowledge/economics/2020-dairy-outlook-update

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