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Weakness in Dairy Sector Seen
WASHINGTON - Oct 10/08 - SNS -- Dairy product prices will be lower than initially expected in the United States in 2008-09, according to the latest supply and demand forecasts from the USDA's World Agricultural Outlook Board.
Class price forecasts are lowered from last month. Weaker international demand for NDM is expected to result in sharply lower forecast NDM prices. Lower NDM prices more than offset higher forecast butter prices and push the Class IV price lower.
Cheese prices are forecast lower as demand is softening and weaker Class IV prices are expected to encourage milk to flow into cheese vats in 2009. Thus, coupled with lower expected whey prices Class III price forecasts are reduced from last month. The all milk price is forecast lower this month, averaging $18.40 to $18.50 in 2008 and $16.50 to $17.40 in 2009.
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