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The USDA announced the February Federal order Class III milk price at $17.78/cwt, down $1.65 from January and the lowest since September 2021. The February Class IV price fell to $18.86, and the January milk-to-feed price ratio dropped to 1.73, the lowest since August 2022.
Low milk prices and a weak milk-feed ratio reduce dairy producers' ability to pay for feed, which can weigh on dairy feed demand and rations.
thefencepost.comLee MielkeMar 10, 2023After 273 past bearish report events, MILK moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
After 770 past neutral report events, CORN moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
