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USDA's July WASDE lowered its 2022 and 2023 US milk production estimates on slower milk-per-cow growth. The 2022 Class III price forecast was trimmed to $22.80 per cwt while the Class IV forecast was raised to $24.70.
Lower projected milk output supports dairy product prices, but the cheese cut tempers Class III values for dairy feed demand.
keyagdairydiary.blogspot.comJul 25, 2022After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
