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The September Class III milk price reached $23.34/cwt, the highest in more than two years. US milk output has been lower than the prior year for 14 consecutive months, and replacement heifer shortages limit how quickly farmers can expand herds.
Tight milk supply and slow herd rebuilding suggest elevated dairy prices may persist, supporting dairy producers' ability to buy feed. Lower feed costs also improve margins, which keeps dairy demand for feed ingredients steady.
dairyherd.comLucas FuessNov 1, 2024Not 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.
