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China weighs heavily on dairy and ag markets
“We kind of laugh. It feels like it’s been Groundhog Day going all the way back to March 2020, since seemingly every few weeks we get some market-moving news. Quite frankly, over the past couple of weeks postelection, it’s been more of the same,” said Kyle Schrad, vice president, Global Dairy and Food Operations, StoneX Financial Inc.
Though Schrad was hoping for more market and economic clarity postelection, markets still remain volatile. However, he does have projections about the coming year on foreign and domestic activity.
The first elephant
“The biggest thing to keep an eye on from the dairy perspective is Chinese purchases,” he said. “China is the elephant in the room.”