Loading…
USDA's January Milk Production report showed U.S. output up 1.6% year on year to 19.17 billion pounds. U.S. cow numbers were 9.45 million, up 85,000 head, and growth slipped below 2% for the first time since August.
Continued expansion in cow numbers keeps milk supply heavy, although slower growth may ease some pressure on dairy prices later in the year.
agproud.comDave NatzkeFeb 24, 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.
