◂ Event Timeline

Feb 8, 2022REPORTUS

Lee Mielke: Benchmark jumps $2.02

USDA announced the first 2022 Class III milk price at $20.38/cwt for January, up $2.02 from December and the highest since November 2020. Class IV for January rose to $23.09/cwt.

U.S. cheese output in December rose 3% from November.

WHY IT MATTERS

Higher Class III and IV prices lift dairy-cow feed-demand expectations and signal firmer milk values, which support dairy producers' ability to buy feed.

AFFECTSMilk (Class III)▲

SOURCE
capitalpress.comLEE MIELKEFor the Capital PressFeb 8, 2022

Price reaction & history

Milk (Class III)▲bullishSO FAR1d -0.5%5d +0.1%20d +9.1%

After 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.

May 7, 2019Lee Mielke: Benchmark price up 92 cents | Capital Press-1.2%
Oct 5, 2021Lee Mielke: Benchmark price up 58 cents | Capital Press-1.5%
Jul 7, 2020Mielke: Benchmark price soars $8.90 | Capital Press+4.7%
Mar 15, 2022Lee Mielke: Milk estimates lowered again | Capital Press-0.0%
Apr 12, 2022Lee Mielke: Milk production estimate raised | Capital Press+0.2%

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.

Milk (Class III) MILK · GP ▸

——— · ·

Loading…