Animal protein prices are mostly declining even though there was a consumer rush to hoard supplies ahead of COVID-19 lockdowns. An economic recession generally dulls consumption of higher cost per calories products. With restaurants closed, the price of products heavily used by these outlets like bacon and cheese are plunging. Bacon prices are reportedly down 29 percent. The FAO dairy price index was down 3 percent in March from a month earlier. Yet prices are not acting completely rational. The FAO’s meat price index has been declining for three straight months, well ahead of any known adverse impacts in most countries. Norwegian salmon prices also fell during Q1.
Yet there is an argument that some of the declines are over-wrough...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
