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USDA's May WASDE raised its 2022 US milk production forecast by 400 million pounds to 226.7 billion pounds on higher cow inventories. Cheese and butter price forecasts were raised, while NDM and whey forecasts and the Class III and IV prices were lowered.
A larger milk supply forecast eases pressure on dairy prices, although firmer cheese and butter prices partly offset the effect. Feed buyers should expect the milk price outlook to soften slightly.
hartdesign.comadminHartMay 14, 2022After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
