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USDA raised its 2022 milk production forecast on higher cow inventories and raised butter and cheese price forecasts on strong demand. Nonfat dry milk and whey prices were lowered, and the 2022 all milk price forecast fell five cents to $25.75.
A larger milk supply outlook with lower whey and powder prices points to more dairy byproduct availability for feed, which weighs on dairy ingredient values.
brownfieldagnews.comNicole HeslipMay 12, 2022After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
