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The USDA Ag Prices report shows Dairy Margin Coverage margins improved for a third straight month in November. The US all-milk price rose $1.10 to $20.80 per cwt, offsetting higher feed costs.
Corn rose 25 cents to $5.27 per bushel, and soybean meal prices also increased.
Higher corn and soybean meal costs raise feed expenses for dairy producers, while the rising all-milk price supports demand for dairy and feed grains.
centerfordairyexcellence.orgJan 5, 2022After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
