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USDA preliminary data show June US milk output at 18.77 billion pounds, down 1% year on year and the 12th straight monthly decline. Cow numbers are down from a year ago, and the column cites bird flu, a heifer shortage and heat as causes.
Cheese continues to attract foreign buyers.
Shrinking milk output tightens dairy supply and supports prices for dairy products and related feed demand. Ongoing cheese export interest adds further support to Class III milk.
thelandonline.comLee MielkeJul 31, 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.
