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Class III milk fell from $18.52 in April to $16.11 in May and could drop below $16 in June. US May milk production was 0.8% higher year on year, with cow numbers up slightly and some Midwest plants lacking staff, forcing some milk dumping.
Cheese and dry whey price declines drove the drop.
Surplus milk and weak dairy product prices reduce dairy farm income and cut feed buying, weighing on feed ingredient demand.
en.edairynews.comDamián MoraisJun 29, 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.
