The tricky parts is figuring out whether the 10% drop in prices today was the blow-off bottom or the 10% drop tomorrow will be the bottom. Very strong retail sales in the US are keeping physical supplies in balance or a little tight, but consumers are now stocked up and the retail side will cool down.

The global outlook for a number of dairy categories over the next few years is very bright

In the cheese aisle, it seems consumers are still reaching for that natural slice, chunk or shredded cheese option versus their processed cousins. With consumers becoming more health-conscious every day and more informed about their food, the natural cheese category continues to dominate.