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USDA's Dairy Global Market Analysis forecasts 2024 US dairy export values to contract on lower prices, with weak demand for nonfat dry milk and whey from East and Southeast Asia in the first half. Cheese production is expected to rise 2%, with exports up 8% to 466,000 tonnes.
Weak skim-milk export demand points to softer prices for dairy byproducts, which can weigh on the value of dairy-based feed ingredients.
dairyglobal.netMatthew WedzeraiFeb 29, 2024After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
