Global Dairy Markets Covid-19 Update, 11 May 2020

After a few years of bleak margins, the prospect of sustained positive margins was on the horizon until Covid-19 brought the global economy to a near standstill, triggering demand destruction just as milk production seasonally rose in the northern hemisphere.

Report summary

“The magnitude and duration of the impact on dairy markets varies by country, product mix, and level of foodservice and export dependence,” according to Rabobank’s global dairy strategist Mary Ledman. In the US, a contraction of 3% to 7% in milk deliveries is warranted in 2H 2020, in order to restore balance to supply and demand, says Ledman.

Covid-19 has consumers returning to dairy basics, and it is reversing slower growth or negative growth in categories like fluid milk and processed cheese.

  • Mary Ledman

    Global Sector Strategist – Dairy
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  • Michael Harvey

    Senior Analyst - Dairy
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  • Tom Bailey

    Senior Analyst - Dairy
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  • Emma Higgins

    Analyst - Dairy
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  • Andrés Padilla

    Senior Analyst - Beverages, Dairy, F&A Supply Chains
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  • Sandy Chen

    Senior Analyst - Dairy
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  • Saskia van Battum

    Analyst – Dairy
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  • Richard Scheper

    Analyst - Dairy
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  • Shiva Mudgil

    Analyst - Dairy
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  • Ben Laine

    Analyst - Dairy
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