Laden…
Dairy economists at the University of Wisconsin say the pandemic has turned dairy markets upside down. USDA reported February milk production up 1.7% year over year, and dairy exports have hit port bottlenecks.
Powder prices have fallen from a futures forecast of $1.25 to about $1 per pound, and May Class IV futures are down $5 per hundredweight since mid-January.
Weaker powder demand and rising milk output reduce dairy prices and pressure milk-based feed ingredients. Export bottlenecks limit the outlet for surplus U.S. milk powder.
capitalpress.comCAROL RYAN DUMASCapital Press25 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.
Late-March coverage of pandemic demand disruption, with production up and export bottlenecks, set up the bearish supply/demand backdrop and weighed on dairy futures.
