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USDA's Dairy Outlook at its 98th Agricultural Outlook Forum projected US milk production at 227.2 billion pounds in 2022, up just 0.4%. It also forecast the all-milk price at $23.55 per cwt, $4.86 above 2021, supported by higher wholesale dairy product prices.
Modest output growth alongside stronger wholesale butter, cheese and nonfat dry milk prices points to firmer farm-level milk prices through 2022. This supports dairy feed demand and higher milk-based feed ingredient costs.
dairyprocessing.comBenton SmithFeb 25, 2022After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
