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Farm Credit East and Crop Growers hosted a 2024 dairy outlook webinar focused on the Northeast. Speakers noted that US milk output fell 0.6-0.7% in 2023, that exports lagged, and that the futures market forecasts a 2024 all-milk price of about $20/cwt.
Lower US milk output and a futures-implied price near $20/cwt suggest a steady dairy demand backdrop for feed buyers, with no major price shock expected.
farmcrediteast.comFarm Credit East Knowledge ExchangeFeb 6, 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.
