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Terrain analyst Ben Laine says persistently tight US milk supply has supported strong exports and pushed Class III prices to new highs for the year. Milk output through April was down 0.7% from 2023, while domestic demand has been firm.
He warns that higher prices could erode export competitiveness and lead to a correction later in the year.
Strong export pull and tight milk supply are supporting dairy prices, but a loss of export competitiveness could trigger a downward correction. Dairy-linked feed demand and by-product values may shift accordingly.
terrainag.comBen LaineJun 27, 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.
