
Dairy markets are recovering from a deep trough caused by lost food service demand for cheese and butterfat during COVID-19 lockdowns. Lockdown relaxation is expected to be staggered, and surplus milk and product measures so far look limited.
Expected stock builds in SMP, butter and cheese keep downside pressure on dairy prices until demand clearly rebuilds in Europe and the US, which weighs on dairy-based feed ingredients sentiment.
Setelah 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.