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USDA data showed December 2020 dairy production ended the year mostly higher, with cheese output up on the month and year. Butter production rose about 19% on the month, while skim milk powder fell nearly 37% from the prior year.
Mixed product shifts give no clear new supply signal for milk prices, though the rise in butter and cheese output adds to the supply overhang.
brownfieldagnews.comNicole HeslipFeb 4, 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.
