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The US average milk price for January 2017 was $18.90 per cwt, up 10 cents from December and the highest monthly average since December 2014. Feed costs averaged $7.84 per cwt, up about 15 cents.
The MPP-Dairy margin stayed above $11 for a second month.
Strong milk prices with margins well above the MPP trigger support dairy producer income. Rising corn and soybean costs and a weaker 2017 margin outlook are the main pressures ahead.
agproud.comDave NatzkeMar 1, 2017After 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.
After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% 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.
