January 25, 2021
Global Dairy Weekly (week ended January 22, 2021)
An eFeedLink Exclusive
By MATT GOULD, THE DAIRY MARKET ANALYST
Foodbox program shocks market, again
Batavia, NY - The biggest news this week about the Farmers to Families Food Box program and USDA's rather confusing announcement. On Tue night, USDA sent an email announcing the purchase of $354 million in food boxes, far short of the expected purchase total of $1.5 billion. In response, Class III futures plummeted with the Feb futures contract decreasing by $2.77/cwt this week and spot cheese prices declining by double-digits.
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