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Idaho dairy analyst Dustin Winston says global milk supply is contracting and farm-level milk prices will likely stay strong through at least June 2022. Production costs have risen sharply, pushing Idaho breakeven levels to $18.50-$19 per cwt.
Class III futures trade at $19-20 for 2022.
A contracting global milk supply and strong demand keep milk prices high, but rising feed costs squeeze dairy margins and can curb herd growth and feed purchases.
en.edairynews.comDamián MoraisJan 5, 2022
idahostatejournal.comBy SEAN ELLIS Idaho Farm Bureau FederationJan 3, 2022Not 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.
Contracting global milk supply and expectations of strong prices through mid-2022 supported futures buying.
