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Administrators of the 11 Federal Milk Marketing Orders reported August 2022 uniform milk prices, which fell from July after record highs in June. Seven FMMOs saw uniform prices drop by more than $1/cwt, led by Class III-heavy regions, as lower protein values pressured Class III prices.
Class I base price fell 74 cents to $25.13/cwt.
Lower Class III values, driven by weaker protein prices, reduce US farm milk returns and signal softer dairy feed-demand expectations. The downtrend in US milk prices is bearish for MILK.
agproud.comDave NatzkeSep 16, 2022After 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.
