◂ Event Timeline

Dec 22, 2023REPORTUS

Where does the milk fat go?

USDA Economic Research Service data show US milk fat production topped 9.3 billion pounds in 2022, with cheese taking 42.3% of utilization and butter 17.8%. Fluid milk's share has fallen to about half its 2000 level.

WHY IT MATTERS

The shift in milk fat use toward cheese and butter shows where demand for fat is concentrated, which shapes the outlook for dairy product prices.

AFFECTSMilk (Class III)◆

SOURCE
hoards.comAbby BauerDec 22, 2023

Price reaction & history

Milk (Class III)◆neutralSO FAR1d +0.1%5d +0.1%20d -5.5%

After 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.

Jul 1, 2019Mailbox milk prices: What do they tell us? - Progressive Dairy | Ag Proud+6.5%
Nov 9, 2017Mielke: Benchmark milk prices climb | TheFencePost.com+2.1%
Nov 22, 2018IFCN report: Higher costs, higher prices and more milk - Dairy Global-0.1%
Feb 2, 2024The Federal Milk Marketing Order Pricing Formula Hearing has ended-1.2%
Dec 18, 2020Economic Review of Milk Costs in 2019 and Projections for the Rest of 2020 and 2021 - farmdoc daily+0.5%

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.

Milk (Class III) MILK · GP ▸

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