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AHDB expects global milk production to grow about 1% in 2020, mainly from the US and EU, while Australian output declines after drought and bushfires. Global dairy demand is forecast to rise 2.1% for fresh products and 1.5% for processed products, with African swine fever boosting demand for alternative proteins.
Modest supply growth against steady demand suggests dairy prices stay firm in the first half of 2020. Trade-war risks could weigh on prices.
ahdb.org.ukJan 9, 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.
