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USDA announced the January Class III benchmark at $16.04/cwt, up 32 cents from December but $1.01 below a year earlier. Futures pricing for later 2021 months was also reported, and the 2021 Class III average forecast was cut to $16.60.
Lower projected Class III and Class IV prices reflect the expanding milk supply and point to weaker dairy margins for feed buyers.
en.edairynews.comDamián MoraisFeb 10, 2021After 273 past bearish report events, MILK 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.
