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University of Wisconsin economist Mark Stephenson says tight global milk supply, including falling cow numbers in the Netherlands, New Zealand and parts of Europe, is supporting strong U.S. export and domestic demand. He also flags lower U.S. cow numbers in the West and Southwest.
Tighter global milk supply and strong export demand support U.S. milk prices, while falling cow numbers tighten domestic supply.
Not 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.