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USDA estimated the March 2016 U.S. average all-milk price at $15.30 per hundredweight, the lowest since May 2010. Higher soybean meal and alfalfa hay prices combined with lower milk prices to shrink dairy producer margins under MPP-Dairy.
Weaker milk prices and tighter producer margins suggest reduced dairy herd feed spending pressure, while higher soybean meal costs squeeze dairy feed budgets.
agproud.comDave NatzkeMay 5, 2016After 273 past bearish report events, MILK moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% over 20.
After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), 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.
