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USDA's 2020 annual dairy products report shows skim milk powder production rose more than 21 percent, the largest increase, as processors shifted to storable products during the pandemic. Butter output rose more than 7 percent and cheese output reached over 13 billion pounds.
Dairy product stocks have grown since late 2020, but strong exports and returning foodservice demand are supporting prices.
Higher skim milk powder and dairy stocks add supply pressure, though firm export and institutional demand limits the price downside.
brownfieldagnews.comNicole HeslipApr 27, 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.
