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HighGround Dairy reports Class III prices have risen sharply from $15.50/cwt in April, with lower feed costs improving margins. US milk production has been below prior-year levels for ten straight months, with herd shrinkage, HPAI and heat stress limiting expansion, and replacement heifers in short supply.
A smaller national herd and tight replacements keep milk supply limited, supporting dairy prices. Lower feed costs improve producer margins, which could support demand for dairy feed ingredients.
highgrounddairy.comMarket Intel TeamJun 18, 2024Not enough comparable past events yet for a historical read.
Not 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.
