Insight Focus
- China’s dairy demand could drop with COVID lockdowns reinstated in some areas.
- New Zealand’s whole milk powder and butter prices have dipped in response.
- Prices remain high in other geographies, with butter still rallying in Europe and the US.
New Zealand’s Dairy Prices Dip as COVID Restrictions Tighten in China
- China’s dairy demand could drop in the coming months on the back of tightening COVID restrictions.
- New Zealand’s whole milk powder and butter prices have dipped in response.
- A more positive milk production outlook also fuelled the drop.
- The US market looks comparatively calm.
- Butter prices still climbed last week, though.
- In Europe, all dairy prices remain high, with butter and skim milk powder still rallying.
- Both crude oil and energy’s rally is impacting fertiliser prices, which hits dairy feedstocks, freight costs and processing costs to dry milk.
- The rallies also impact corn – the feed for dairy in most global markets.
Other Insights That May Be of Interest…
The Dairy Industry, Now and in the Future
Innovations Within the Dairy Industry
