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USDA's June WASDE kept 2024 and 2025 milk production unchanged, with higher 2024 cheese exports and imports and raised butter, cheese and whey price forecasts. Cheese is projected at $1.79 per pound for 2024 and butter at $2.97.
Higher export and product price forecasts point to firmer dairy demand, supporting milk prices and dairy feed demand over the coming year.
dairystar.comJun 22, 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.
