Loading…
Class III milk prices are forecast at $18 to $24 this fall, with October and November near the low end as supply grows. AgResource's Ben Buckner attributes the decline to rising US milk output and cow numbers, Federal Reserve rate hikes, and a stronger dollar.
He cites recession risk and safe-haven demand for the dollar as added pressure.
Expanding cow numbers point to more milk into late 2022 and 2023, which weighs on dairy prices and reduces the value of dairy co-products used in feed. A firmer dollar also cuts US dairy export competitiveness.
theseam.comAug 15, 2022Not enough comparable past events yet for a historical read.
Not 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.
