• Market sentiment on long-term demand for dairy products has turned bearish.
  • The commodity market has fallen due to US interest rate hikes and balance sheet reduction.
  • Chinese demand could support the prices given the lifting of COVID restrictions.

New Zealand

  • New Zealand dairy futures fell, especially the skim milk powder price.
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USA

  • US dairy futures fell due to the bearish macro-economic outlook.
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Europe

  • The European market was down again, especially forward prices for the first quarter of 2023.
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Other Insights That May Be of Interest…