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UK milk processing shifted sharply after lockdown closed cafes and restaurants, with liquid milk use falling while cheddar, butter and powder output rose. Powder conversion rose 57% over March and April compared with 21% a year earlier.
Diversion of milk into storable products tightens cheese and powder stocks, but overall average prices for butter, WMP and cheese remained down month on month, leaving the price effect mixed.
fwi.co.ukJonathan RileyJun 12, 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.
