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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 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.
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.
