OBSERVATION COMMENTARY Narrative: Supply is telegraphed as tight across all major origins – EU, NZ, and the US, Eye wateringly strong…
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OBSERVATION COMMENTARY Prevalent narratives Inflation is here and Inflation is not transitory Supply of ‘everything’ is tight, while demand for…
OBSERVATION COMMENTARY What are we watching? “A narrative gets created and the crowd buys the story. At some point the sentiment…
OBSERVATION COMMENTARY Two weeks ago, global forward prices showed a “pause” after having raised continuously for months. In last two…
OBSERVATION COMMENTARY Emerging narratives We are in World War III China lockdowns will lead to significant slowdown in commodity import…
OBSERVATION COMMENTARY While visible dairy markets appear unaffected by the UKR-Russia conflict, we think dairy will be impacted by the…
OBSERVATION COMMENTARY Lower milk output vs prior year makes dairy supplies very tight Raising concerns for further milk output reduction…
It’s becoming increasingly “cliché” to say that variables are evolving fast, but they are. Price volatility is reflecting such evolution…
OBSERVATION COMMENTARY Has milk price seen its peak?Milk prices will continue to strengthen and scale in the Q1-Q2 2022 at…
OBSERVATION COMMENTARY Pricing across the benchmark Origins reflects flat production growth and to some extent modest contraction sentiment in a…
