Covid-19 interrupted a market balancing process that has been underway for several years, thereby widening price disparities between dairy fats and powders. Led by China, Far Eastern dairy consumption remains on track to spark a new, early 2020s price boom.
Coronavirus, trade politics and collapsing western economies will accelerate the rebalancing of a flourishing world beef trade.
Four years of economic liberalization revives exports to record levels -with three quarters of shipments destined for China. Now Covid-19, and a new, ham fisted government threaten to send the industry back into its multi-decade slump.