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Rabobank expects dairy farmers in most major producing countries to return to profitability over 2024 and early 2025 as farmgate milk prices rise and input costs fall. It forecasts Big 7 milk supply turning positive in the second half of 2024, though it warns expansion will take time.
Brazil output is expected to rise 0.5% and Argentina's recovery depends on better weather from Q2 2024.
Expected milk supply growth in the second half of 2024 is a gradual, bearish offset to the firmer price outlook, and it matters for dairy feed demand outside the US.
dairyreporter.comTeodora LyubomirovaMar 14, 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.
