Memuat…
StoneX analyst Nate Donnay estimates that US government dairy purchases in 2020 pushed the CME block cheese price up about 64 cents per pound and butter up 31 cents from May through November. He estimates the purchases lifted the average Class III milk price by about $6.30/cwt and Class IV by about $1.31/cwt.
Purchases through the food box program and other programs totaled roughly $1.33 billion.
Government buying has been a major source of dairy price support and volatility, so feed buyers should expect dairy-linked demand and milk prices to be sensitive to any reduction in these programs.
hoards.comNate Donnay, StoneX Group Inc.30 Nov 2020Setelah 17 peristiwa kebijakan bullish sebelumnya, Susu (Class III) bergerak median -0,6% selama 5 sesi (29% lebih tinggi; separuh tengah -1,6% sampai +0,2%), dan -3,0% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Shows government food box purchases had inflated cheese and Class III prices, so their fading removed support and fed the reversal.
