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Class III milk prices have generally trended lower, testing the $18 level after falling below $19 support. Analyst Naomi Blohm attributes the decline to steadily increasing milk production over the past four to five months, while dairy exports remain strong.
Production growth outpacing demand keeps downward pressure on milk prices, which weighs on dairy producer returns and the economics of dairy feed purchasing.
rrfn.comDon WickJan 23, 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.
