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At NMPF's annual meeting, incoming CEO Gregg Doud and NMPF economists forecast an improving US dairy price outlook for 2024 after record-low margins in 2023. Economists still flagged significant demand headwinds at home and abroad.
A recovery forecast for 2024 suggests dairy farm margins may improve, but the demand headwinds limit near-term price upside for milk.
nmpf.orgTheresa SweeneyDec 6, 2023After 15 past neutral macro events, MILK moved a median -0.2% over 5 sessions (27% higher; middle half -2.1% to +0.1%), and -3.2% 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.
