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USDA projects the all-milk price averaging $18.25 for 2020 and $17.70 for 2021. Class III prices rose through October and November on government cheese purchases, strong cheese exports and higher dry whey prices, but cheese fell sharply in November and Cropp warned December Class III could drop near or below $16.
Lower projected 2021 milk prices and a sharp expected December Class III decline reduce dairy farm revenue and signal weaker demand for dairy-based feed ingredients, while steady production keeps supply ample.
farmprogress.comFran O'Leary1 dic 2020Tras 273 eventos bajista de informe pasados, Leche (Clase III) se movió una mediana de -0,2 % en 5 sesiones (39% al alza; mitad central entre -1,3 % y +0,4 %), y -1,4 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Cheese fell sharply in November after government purchases faded, and the analyst warned that December Class III could drop near or below $16.
Dated 12/1, it flags the sharp November cheese drop and a warning that December Class III could fall near or below $16, so it points to the downward repricing in the futures contract; the timing fits the move window.
USDA outlook notes cheese fell sharply in November and December Class III could drop near or below $16, reinforcing downward price expectations.
