Insight Focus
- New Zealand and US dairy prices fall.
- Skim milk powder in Europe drop significantly.
- Futures prices are less likely to continue falling
Demand for grain and feed remains high. The market is mainly concerned about the Fed raising US interest rates will lead to weaker demand. However, considering the overall improvement of COVID in China and the high cost of breeding, the possibility of a continuous drop is low.
New Zealand
- New Zealand dairy futures fell across the board, with skim pulling back for a second straight week. Whole milk powder had been supported in recent weeks but retreated last week.
US
- Dairy futures all fell on strong concerns about future demand after the Federal Reserve raised US interest rates..
Europe
- Skim milk powder and butter fell for a second week in Europe, with skim milk powder falling far more than other varieties.
Other Insights That May Be of Interest…
Food Supply Chain Key Factor in Inflation Surge
Russian Food Self-Sufficiency: Reality or a Potemkin Village?
