date:Feb 22, 2019
moderate risks for disruption to the significant cheese trade into the UK, and potential impact on other commodities if milk use in the UKs major cheese suppliers changes.
The clearance of SMP intervention stocks shifts a large volume of product into various intermediary and downstream storages in the supply chain but is expected to keep SMP prices firm in the short-term, with expected deep cuts in SMP output through Q1 and into the early Spring period based on projected milk availability.
Pas