USDA milk production, price and feed cost projections all raised - Progressive Dairy

After 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.

• Sep 19, 2019U.S. milk production growth remains small in August - Progressive Dairy | Ag Proud+0.1%
• Nov 10, 2021Weekly Digest: USDA outlook sees deeper milk production cuts - Progressive Dairy | Ag Proud-0.8%
• Oct 12, 2021Economic Update: USDA outlook cuts milk production estimates, brightens price forecast - Progressive Dairy | Ag Proud-0.1%
• Jun 10, 2022Economic Update: USDA cuts 2022-23 milk production forecasts, raises price projections | Ag Proud-0.5%
• Jul 10, 2020Economic Update: USDA cuts milk production forecast for 2020, with price outlook improved - Progressive Dairy | Ag Proud+0.2%

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.

• Sep 11, 2020USDA: Milk output forecast raised; smaller harvest boosts feed price projections - Progressive Dairy | Ag Proud+4.5%
• Feb 10, 2021Weekly Digest: 2021 milk production forecast jumps, pushing price expectations lower - Progressive Dairy | Ag Proud-3.0%
• Jul 25, 2026USDA raises milk production estimates - Dairy Star-4.8%
• Nov 30, 2020Projections for feed prices up sharply: USDA-1.5%
• Dec 15, 2020Surging feed prices will test recovery in US animal protein production-1.7%

After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.

• Dec 11, 2020USDA 2021 milk price outlook weakens - Progressive Dairy | Ag Proud+4.4%
• Nov 30, 2020Projections for feed prices up sharply: USDA-2.4%
• Dec 15, 2020Surging feed prices will test recovery in US animal protein production+8.3%
• Jan 28, 20173.7% rise in animal feed production-3.3%
• Jun 11, 2019U.S. Corn Production, Supplies Fall, USDA Says+3.5%