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AgResource's Dan Basse says Class III milk prices have reversed sharply higher since last winter. He forecasts Class III could reach $21-$22/cwt by the fourth quarter.
Avian flu's effect on production is still being assessed, while European and southern hemisphere output is down.
Lower European and southern hemisphere milk supply supports global dairy prices and US Class III values. Avian flu adds uncertainty to US production, which could support prices further.
rrfn.comDon WickJul 25, 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.
