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Milk production is falling in both the U.S. and New Zealand, tightening supply for the next six months. Milk prices have recovered from a mid-July low of $13.80 per cwt to roughly $17 to $18 per cwt in mid-August, while feed markets have eased.
An AgResource analyst expects dairy and grain markets to stay volatile.
Lower milk output from two major exporters reduces dairy supply and supports prices, while cheaper feed improves dairy margins. Dairy herd demand for feed ingredients may firm if milk output stays down.
farmprogress.comFran O'LearyAug 21, 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.
