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October uniform milk prices declined in eight of 11 Federal Milk Marketing Orders compared with September, though high-Class I areas posted small gains. Base producer price differentials were mostly negative in October, except in the Northeast.
The California FMMO had the lowest average at $21.47/cwt.
Lower Class II, III and IV prices and negative PPDs reduce farm-gate milk returns, which can discourage herd retention and modestly weigh on dairy product demand.
agproud.comDave NatzkeNov 15, 2024After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% 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.
