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USDA's Oct. 31 Ag Prices report put the September DMC margin at $10.41 per cwt, above the $9.50 insurable threshold, so no indemnity payments were triggered.
The September US all-milk price rose 40 cents to $19.30 per cwt, the highest monthly price since December 2014, while feed costs continued to fall.
Higher milk prices combined with lower feed costs widen dairy margins, which tends to encourage herd feeding and supports milk prices.
agproud.comDave NatzkeNov 1, 2019After 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.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
