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Analyst Mike North says the fourth-quarter 2019 dairy peak near $20 per hundredweight was driven by domestic demand, including strong retail cheese bids, a Mexican plant shortfall, and a government cheese purchase contract. He sees signs of renewed January cheese demand and regional milk tightness.
Domestic cheese demand and regional milk tightness support milk prices and dairy feed demand, though the peak was driven by one-off factors.
brownfieldagnews.comLarry LeeFeb 10, 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.
