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USDA's October WASDE report cut its 2021 and 2022 US milk production forecasts by about 800 million and 900 million pounds respectively, on lower cow numbers and slower per-cow output growth. The 2021 Class III price forecast was raised 40 cents to $17.05/cwt.
Tighter milk supply and higher projected prices support dairy margins, a key input signal for feed buyers gauging dairy herd demand for feed.
agproud.comDave NatzkeOct 12, 2021After 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.
