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Dairy producers are keeping about 10,000 more cows per week than historical culling patterns, expanding herds. Cheese and butter prices fell sharply, and June Class III futures were near $17.07 per cwt.
Heavier herd retention adds component-rich milk supply that processors struggle to absorb, pressuring milk prices. Weaker dairy returns could reduce future demand for feed from dairy operations.
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.