# Coronavirus shutdown sends milk prices spiraling | Fox Business

> Class III milk, used for cheese, has fallen 38% this year to about $0.12 per pound as stay-at-home orders shut restaurants, hotels and schools. Total US dairy demand is down 12-15%, with foodservice demand off about 40%. Processors have little choice but to dump surplus milk.

- Date: 2020-04-14 · published 2020-04-14T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/53778-coronavirus-shutdown-sends-milk-prices-spiraling-fox-business
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A demand collapse in foodservice and exports creates a glut that keeps milk prices low, reducing dairy producer margins and feed purchasing power.

## Read by commodity

- MILK: bearish ▼

## Sources

- foxbusiness.com: https://www.foxbusiness.com/markets/coronavirus-sends-milk-prices-spiraling

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