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July Class III futures closed below $14.00 per cwt, the lowest realized level since May 2020 would be. The article attributes the slump to heavy US milk supply and weak international demand, with cow numbers 13,000 head above a year earlier.
Heavy supply and weak export demand keep US milk and dairy ingredient prices under pressure, which reduces farm income and cuts the appetite for purchased feed.
dairyherd.comRobin SchmahlJul 10, 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.
