Laden…
Coronavirus lockdowns closed schools, restaurants and coffee shops, causing a sharp drop in dairy demand. Farmers such as Brian Brown were told to cut production by about 20% and began dumping milk.
Excess milk is being directed toward food banks, which may need federal help.
Forced production cuts and milk dumping signal a large supply surplus that keeps milk prices depressed. Lower milk output reduces the volume of dairy byproducts available for feed.
csmonitor.comRichard Mertens30 apr 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.
Reports of dumping and mandated production cuts on April 30 highlighted a demand collapse and glut, weighing on sentiment.
Demand collapse from closed restaurants and schools, along with milk dumping and production cuts, reinforced the bearish sentiment around the glut.
