A new regional study puts the average cost of producing cow's milk in Castilla y León at €47.79 per 100 kg of solids-corrected milk, about 49.2 cents per litre. The farmgate price fell to 48.7 cents per litre in September, 12.6% below January.
Feed makes up about 58.7% of production costs, and the feed ration rose 11.66% since the start of the year.
With farmgate prices below production costs, dairy farmers face margin pressure and may cut herds or feed purchases. Rising feed costs also keep pressure on feed buyers in the region.
After 274 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.4% to +0.4%), and -1.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.