Loading…
A June heatwave with triple-digit temperatures in California reduced dairy cow milk output, which can fall as much as 20% on the hottest days. Chicken producers marketed birds early and nut and citrus growers faced heat stress.
The state's drought has ended after heavy winter rains.
Heat-driven milk losses tighten dairy supply, and lighter broiler weights and crop stress add to feed and protein demand uncertainty.
cnbc.comJeff DanielsJun 27, 2017After 32 past bullish weather events, Milk (Class III) moved a median +0.1% over 5 sessions (50% higher; middle half -0.7% to +3.4%), and +3.2% over 20.
Not enough comparable past events yet for a historical read.
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.
