Memuat…
U.S. dairy prices have fallen since the COVID-19 outbreak, with Class III down 26% and Class IV down 36%. School and foodservice closures cut demand, and exports slowed after March.
The April WASDE lowered annual forecasts for cheese, butter, nonfat dry milk and whey.
Lost foodservice and export demand left surplus milk with no outlet, pushing down milk class prices and the cost of dairy-based feed ingredients. Lower milk prices also weigh on dairy producers' feed purchasing.
farmprogress.comGary Latta28 Apr 2020Setelah 49 peristiwa makro bearish sebelumnya, Susu (Class III) bergerak median -0,6% selama 5 sesi (33% lebih tinggi; separuh tengah -8,5% sampai +0,6%), dan -7,5% 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.
School and foodservice closures cut demand and slowed exports, and the WASDE lowered cheese, butter, NFDM and whey forecasts, which is a bearish demand and price outlook for Class III.
Dated the same day as the drop, it describes COVID-19 foodservice and school closures cutting demand and the April WASDE lowering cheese, butter, NFDM and whey forecasts, which is bearish for Class III.
