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USDA's June WASDE left 2024 and 2025 US milk production forecasts unchanged at 227.3 and 229.3 billion pounds. Price forecasts were raised for butter, cheese and whey on recent strength, lifting the 2024 all-milk price to $21.60 per cwt.
Stable production with firmer product prices supports dairy margins and sustains demand for dairy-side feed, though little change in supply limits upside for dairy feed ingredients.
agproud.comAudrey SchmitzJun 13, 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.
