
Lee Mielke's weekly column reports that dairy markets in the U.S. and worldwide lean bearish as milk output keeps rising. EU and U.K. volumes were up 3.3% in August, with gains also in the U.S., New Zealand and South America.
Demand is steady to slightly stronger but cannot keep up with supply, and USDA data releases were delayed by the government shutdown.
Global milk oversupply keeps downward pressure on dairy product prices and the Class III milk price. Lower milk prices can weigh on dairy sector demand for feed.
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.