Memuat…
Dairy economist Bob Cropp estimated that about 10% too much milk exists because COVID-19 cut restaurant and school sales of cheese and butter. Butter, block and barrel cheese, and nonfat dry milk prices all dropped sharply from January to April 22.
A roughly 10% surplus against collapsed foodservice demand drives Class III and other milk prices lower, and processors are cutting intake to rebalance.
farmprogress.comFran O'Leary24 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.
Estimate of a roughly 10% milk oversupply and sharp declines in cheese, butter and NFDM prices through April 22 point to the supply-demand imbalance behind the selloff.
