Buyers on the hunt for cheaper milk

摘要

Dairy commodity pricing remains in a state of balance, as suppliers hold firm on the basis of limited stocks, and buyers resist, citing Northern Hemisphere alternatives.The Northern Hemisphere is the likely source of any surprise strength in milk production. Full-year official estimates are relatively modest: 2% growth for the US and 1% for the EU. Higher-than-expected early season milk flows would likely raise full-year forecasts, further dampening buyers' willingness to secure product early, at a premium.