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Wholesale dairy markets rebounded from COVID-19 foodservice closures, with cheese and butter prices recovering on strong retail sales and government aid. The author expects a deep recession to weigh on western food spending and cheese demand, pushing more milk into powder production.
Weaker cheese and cream demand will shift milk into powder and butter, pressuring dairy product prices and keeping skim milk powder steady as stocks build.
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。