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Strong dairy exports supported record milk prices in 2022, with whey and milk powder exports reaching record value. Export demand has since weakened, causing a significant price decline for some dairy components such as whey.
Softer export demand for whey and powders weighs on dairy component prices and processor returns, though tight inventories should limit the downside for milk.
farmermac.comFarmer Mac CommunicationsAug 31, 2023After 49 past bearish trade events, Milk (Class III) moved a median -0.3% over 5 sessions (39% higher; middle half -4.7% to +1.5%), and -0.4% 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.
