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US Class III milk prices recovered from a July low of $13.77/cwt to $17.19 in August, supported by higher cheese and butter prices. Analyst Bob Cropp expects Class III near $18.35 in September and USDA forecasts about $18.05 for October through December.
Milk production is expected to stay limited as cow numbers decline due to low milk prices and high feed costs.
Firmer milk prices with flat-to-lower cow numbers point to steady dairy demand for feed, though high feed costs continue to constrain output.
feedstuffs.comKrissa WelshansSep 20, 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.
