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The USDA's September 2024 outlook revised milk production for 2024 and 2025 downward on lower milk per cow, while all-milk prices were raised to $23.05 per cwt for 2024 and $23.45 for 2025. Wholesale prices for all dairy products were also adjusted upward.
Lower production combined with higher wholesale and all-milk price forecasts points to stronger dairy product values and farm milk income into 2025.
thebullvine.comAndrew HuntSep 19, 2024After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
