Dairy Industry Expected To Return To Normal Next Year
The USDA is forecasting a reduction of volatility for the dairy industry, and a return to normalcy next year. World Ag Outlook Board Chair Mark Jekanowski said the dairy industry, has suffered a lot of volatility this year. It started he noted with the large scale lock down, then some re-opening of food service, food service industry closing again, and then uncertainty about schools and colleges.
"So there's been a ton of volatility in terms of demand for many of these products," Jekanowski said. "Especially cheese and butter products that are used in the food service industry. In our forecast, we assume that that's going to settle down a bit in 2021 and things are going to turn around to a bit more of a normal situation suggesting stronger prices for all of these products.
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