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USDA data show US cheese production in December 2023 rose about 1% year on year to 1.21 billion pounds, and butter output rose 4.4% to 196.32 million pounds. Dry milk product output fell sharply from a year earlier.
Strong cheese and butter output alongside weaker dry milk points to a shift in milk use that has limited support for skim-based feed ingredients.
brownfieldagnews.comadminFeb 5, 2024After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
