Loading…
USDA's annual Dairy Products Summary showed record U.S. cheese output of 13.3 billion pounds in 2020, up 0.9% from 2019. Butter production topped 2 billion pounds for the first time, rising 7.6%.
Wisconsin led cheese output with a 25.6% share.
Record cheese and butter output in 2020 shows the size of the dairy supply base feeding into 2021 pricing. Heavy supply of dairy products tends to weigh on milk prices, which in turn affects the cost of dairy-based feed ingredients.
farmers-exchange.netMay 7, 2021After 136 past neutral report events, Milk (Class III) moved a median -0.1% over 5 sessions (43% higher; middle half -0.7% to +0.5%), and -0.3% 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.
