Laden…
Class III milk futures and cheese prices fell sharply in late March 2020 as COVID-19 fears spread. Cheddar blocks dropped to $1.33 and barrels to $1.2050, the lowest levels in several years.
Foodservice cheese orders slipped while retail demand stayed firm.
Weakening foodservice demand for cheese feeds directly into lower milk futures and lower farm milk prices.
capitalpress.comLEE MIELKEFor the Capital Press31 mrt 2020Na 49 eerdere neerwaarts macro-gebeurtenissen bewoog Melk (Class III) zich mediaan -0,6% over 5 sessies (33% hoger; middelste helft -8,5% tot +0,6%), en -7,5% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Published 2020-03-31, it reports that cheese blocks and barrels hit multi-year lows and Class III futures fell sharply on COVID-19 foodservice fears, which directly explains the one-day drop.
Cheese block and barrel prices collapsed to multi-year lows in late March as foodservice orders fell, directly pressuring Class III futures, which are priced off cheese.
Cheddar blocks and barrels dropped to multi-year lows as foodservice cheese orders slipped, pressuring Class III, which is priced off cheese and whey.
Late-March collapse in cheese blocks and barrels to multi-year lows fed directly into Class III futures, which are driven by cheese prices.
