A dairy economist says the coronavirus could cut global
milk prices by at least six percent over the next year.
Nate Donnay with INTL-FCStone says supply-side issues that have developed this year have dropped his initial forecast for 2020 by about four percent.
“It’s being partially offset by the poor weather in New Zealand, although production in the U.S. and Europe seems to be running a bit strong short-term here.”
He says the more
the virus spreads, especially in Europe and the U.S., the more likely dairy
markets will suffer.
