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The USDA announced the November federal order Class III milk price at $17.15 per cwt, the lowest November Class III since 2018. Class III futures pointed to a December price near $16.11, with China's reduced dairy purchases weighing on demand.
Lower milk prices and weak demand reduce dairy farm margins, which can curb herd and feed purchasing, a mildly bearish signal for dairy-linked feed demand.
dairystar.comLee MielkeDec 9, 2023Not 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.
