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USDA's June 10 WASDE cut its 2022 U.S. milk production forecast by 300 million pounds to 226.4 billion pounds, due to slower growth in milk per cow. It also raised farm-level price projections, with the 2022 Class III average at $22.90 per cwt and the all-milk price at $26.20.
A smaller milk supply and higher price forecasts point to tighter dairy markets and stronger prices for milk and dairy products. Higher milk prices also raise the value of dairy-based feed ingredients for buyers.
agproud.comDave NatzkeJun 10, 2022After 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.
