November dairy market holds steady
Dairy supplier Maxum Foods has released its monthly dairy commodity update for November. The update shows that dairy markets worldwide can be expected to remain steady. While milk growth has been minimal and supplies have reduced slightly, demand remains high for dairy products globally.
The Chinese market is expected to slow, as is the European Union’s, but the outlook is still a rosy one, with no foreseeable disruptions on the horizon. That said, the production of milk is slowing slightly and this is unlikely to change in the near future as the US and EU markets face increased operating costs.
Globally, retail markets will be affected by inflation across many commodities but consumers buying dairy will likely not be impacted by price increases in comparison to other realms like energy or fuel.
Finally, while demand out of China will obviously continue to be important in the short term, changes in the market due to logistical issues, such as the ones brought about by changing COVID-19 conditions, mean that milk powders may be impacted.
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