A pickup in demand for milk products in China and other parts of Asia has sparked a rebound in global dairy prices, improving the profit outlook for farmers from New Zealand to the U.S.
Expectations of lower demand for many commodities during the coronavirus pandemic helped push dairy prices to an 18-month low in May. Since then, the Global Dairy Trade price index has risen 11% and is now back to near levels seen in January, before the contagious respiratory virus began spreading globally.
The Chinese economy expanded 3.2% from a year earlier in the second quarter, and could be the only major global economy to grow in 2020. WSJ’s Jonathan Cheng explains the country’s strategy to front-load the economic pain in the early stages of the pandemic.
Full Article at Wall Street Journal
