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Buyside has not forgotten about developments in the second half of last year
Just before the Northern hemisphere summer holidays we have an interesting situation in the global dairy market. Recent price developments as well as recent supply and demand fundamentals seem to suggest that buyers can look forward to additional price erosion in months to come. However, last year around this time most buyers also held the view that the market would come their way after the Northern hemisphere summer. We all know how that ended. Disease incidence upon disease incidence eliminated the anticipated growth of milk production and buyers had to pay increasingly higher prices in a tightening global dairy market. We now seem to arrive at a similar junction where buyers find it difficult to choose between the safety of buying at slightly lower prices than in recent weeks or be patient and wait for even better offers to come.