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GB milk deliveries rose 1.2% year on year in March to 1,088 million litres, bringing the 2022/23 season to 12.39 billion litres. Global February milk output grew 0.8%, and the EU forecasts a 0.2% decline in 2023 production.
Steady milk output alongside falling milk prices may squeeze farm margins and lead to higher destocking later in the year, which would reduce feed demand. The impact on feed prices is modest in the near term.
ahdb.org.ukApr 20, 2023After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
