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October US dairy output was mixed, with cheese production up about 1% year on year and butter down nearly 2%. Nonfat dry milk and skim milk powder output fell year on year while dry whey and lactose rose.
Stocks remained heavy, so the mixed production data is mildly bearish for dairy product prices and suggests limited near-term support for milk values.
brownfieldagnews.comNicole HeslipDec 3, 2021After 273 past bearish report events, Milk (Class III) moved a median -0.2% over 5 sessions (39% higher; middle half -1.3% to +0.4%), and -1.4% 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.
