# MRV Market Commentary May 4, 2023 - MRV

> MRV reported that US butter and dry whey fell about 2 cents month over month, while barrel cheese dropped 27 cents and NDM volumes rose about 36%. USDA estimates put March 2023 dairy cow slaughter above 300,000 head, the highest since 1986, as low milk prices and higher cull cow values pushed farmers to cull.

- Date: 2023-05-05 · published 2023-05-05T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/4113-mrv-market-commentary-may-4-2023-mrv
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Heavy culling tightens future milk supply, which could support prices later, but near-term dairy product prices are under pressure from weak cheese and whey markets.

## Read by commodity

- MILK: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| MILK | 2023-05-07 | 5 | -11.6% | -4.2 | Barrel cheese dropped 27 cents month over month and dry whey fell, while heavy cow culling signals weak farm economics and bearish sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2023-06-14 | [May dairy market review \| AHDB](https://feedsoft.ai/events/35493-may-dairy-market-review-ahdb.md) | -0.9% | -8.3% |
| MILK | 2021-03-02 | [February 2021 Dairy Market Report - EDairy News English](https://feedsoft.ai/events/48120-february-2021-dairy-market-report-edairy-news-english.md) | +4.5% | +3.5% |
| MILK | 2024-05-01 | [Dairy Market Update April 2024 \| MCT Dairies, Inc.](https://feedsoft.ai/events/4267-dairy-market-update-april-2024-mct-dairies-inc.md) | +18.1% | +19.5% |
| MILK | 2018-09-12 | [Mielke Market: Milk price up to $14.95 \| News \| lyndentribune.com](https://feedsoft.ai/events/63187-mielke-market-milk-price-up-to-14-95-news-lyndentribune-com.md) | +0.1% | -1.9% |
| MILK | 2021-11-10 | [Monthly Dairy Comments by: Andrew P. Griffith, Livestock Marketing Specialist - Dairy Producer](https://feedsoft.ai/events/44063-monthly-dairy-comments-by-andrew-p-griffith-livestock-marketing-specialist.md) | -0.8% | +2.7% |

## Sources

- mrvdairysolutions.com: https://www.mrvdairysolutions.com/blog/mrv-market-commentary-may-4-2023/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.