Insight Focus
- East Asian demand was weak at the recent global dairy trade auction.
- Renewed COVID restrictions seem to have softened demand.
- Even with tight supply and rallying feed costs, weak demand has pushed dairy prices down.
Demand Plummeted in Asia
- East Asian buyers were quiet at the last dairy trade auction, perhaps following the recent COVID spike.
- In New Zealand, prices have dropped on weaker demand from China.
- In the US, feedstock prices eased as production stats surpassed market expectations.
- This mitigated the drop in Asian demand.
- In Europe, milk shortages are still supporting butter prices.
Other Insights That May Be of Interest…
Russian Food Self-Sufficiency: Reality or a Potemkin Village?
PET Resin Trade Flows: China’s COVID Response Slows Trade Flows
