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USDA preliminary data showed November 2021 US milk production at 18.035 billion pounds, down 0.4% year on year, with cow numbers down six consecutive months. The December WASDE cut 2021 and 2022 milk production forecasts and raised projected milk prices.
Falling cow numbers and lower output tighten dairy supply, supporting milk prices and reducing dairy byproduct availability for feed.
agproud.comDave NatzkeDec 23, 2021After 237 past bullish report events, MILK 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.
