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Dairy plants in several states are dumping surplus milk after securing enough product this spring at lower prices, with Minnesota's Hastings Creamery closed over wastewater permitting issues. RaboResearch expects the oversupply to take months to clear and anticipates some cow culling.
Oversupply and lower milk prices reduce dairy farm margins, which should eventually cut herd size and support a later recovery in milk prices and dairy demand for feed.
brownfieldagnews.comNicole HeslipJun 9, 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.
