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CoBank reports that the COVID-19 shutdown has triggered a US recession, with the foodservice sector losing many jobs and consumers shifting almost 90% of food purchases to supermarkets. Rural processors of dairy, meat and produce are reorganizing production and supply chains quickly.
Labor and logistics disruptions in food processing and distribution could constrain output of feed-relevant proteins and reduce demand for feed ingredients.
feedstuffs.comKrissa WelshansApr 3, 2020After 15 past neutral macro events, MILK moved a median -0.2% over 5 sessions (27% higher; middle half -2.1% to +0.1%), and -3.2% over 20.
Not 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.
