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USDA's January supply and demand report raised its 2020 and 2021 US milk production estimates and lifted 2021 cheese, butter, nonfat dry milk and whey price forecasts on strong domestic demand. The 2021 all-milk price was raised by $1.05 to $17.65 per hundredweight.
A higher all-milk price forecast supports dairy margins and dairy herd economics, which can support demand for dairy by-products used in feed.
brownfieldagnews.comNicole HeslipJan 12, 2021After 237 past bullish report events, Milk (Class III) moved a median +0.0% over 5 sessions (51% higher; middle half -0.3% to +0.6%), and +1.2% 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.
