Loading…
INTL FCStone analyst Peter Meehan said EU dairy prices kept falling as COVID-19 cut food service demand and milk supply rose. European spot butter fell 11% below end-January levels, and spot skim milk powder fell 21% since mid-February.
Chinese dairy imports were also weak in January and February.
Weak EU and Chinese demand combined with rising milk output keeps dairy product prices under downward pressure.
agriland.ieSylvester PhelanApr 7, 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.
