Milk prices in China remain near their lows after falling 32% between 2021 and 2026. However, market sentiment is changing as prices have started to rise and capacity has been reduced.
Over the past week, wholesale prices were up 0.3% and up 1.0% year on year. In contrast, dairy-related stocks have rallied, with some seeing limit-up moves this week.
On the supply side, destocking has continued due to the extended drop in prices. At the end of June, the number of dairy cattle was estimated at 5.8...