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RaboResearch outlined three waves of dairy market movement over the next 12 months from the COVID-19 crisis. Panic buying lifted retail demand, but food service demand fell sharply, and rising stocks, seasonal milk peaks, and weaker trade are expected to push prices down.
A longer recession could keep prices under pressure into 2021.
Expected rising dairy stocks and a seasonal milk peak point to lower dairy commodity and farmgate milk prices.
agproud.comDave NatzkeApr 8, 2020After 273 past bearish report events, MILK moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
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.
