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Mass closures of restaurants and schools shifted dairy sales abruptly from wholesale food-service channels to retail grocery stores. Dairy processors also struggled to find enough drivers because some workers feared the virus and stopped working.
U.S. dairy farmers began dumping milk.
Lost food-service demand and logistics bottlenecks leave surplus milk with no outlet, pressuring farmgate and Class III milk prices lower.
reuters.comP.J. Huffstutter2020年4月3日reuters.comP.J. Huffstutter2020年4月5日在过去 49 次看跌的宏观事件之后，牛奶(III类) 在 5 个交易日内中位数变动 -0.6%（33% 上涨；中间一半区间为 -8.5% 至 +0.6%），20 个交易日内为 -7.5%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
Shift from foodservice to retail and processing and labor disruptions created demand and logistics dislocations that weighed on milk prices.
Restaurant and school closures shifted sales away from wholesale channels, and processor labor shortages and milk dumping signaled a supply-demand imbalance.
