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A National Milk Producers Federation economist says the US dairy outlook is improving. US milk production growth of about 1% a year is manageable, and world prices for nonfat dry milk and dry whey are strengthening.
Cheese and butter prices are also firming on the domestic market.
Modest production growth that the market can absorb supports milk prices. Firming dry dairy and cheese prices point to a better milk price for producers.
brownfieldagnews.comNicole HeslipJun 30, 2016Not enough comparable past events yet for a historical read.
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.
On the move date, an NMPF economist's optimistic outlook with firming cheese, butter, NFDM and whey prices supported bullish sentiment.
An improving outlook with firming cheese and butter prices and stronger world NFDM and whey prices supported bullish sentiment during the window.
