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Strong US dairy exports in May and June, including record June exports and record May milk powder shipments, have drawn down nonfat dry milk stocks. Dry whey exports rose as China rebuilds its swine herd.
Economists do not expect cheese and milk prices to return to their summer highs.
Robust export demand supports dairy prices and whey and powder demand, but the expected plateau in prices limits upside for milk-based feed ingredients.
capitalpress.comCAROL RYAN DUMASCapital PressAug 27, 2020After 18 past neutral trade events, Milk (Class III) moved a median -0.4% over 5 sessions (39% higher; middle half -2.9% to +1.1%), and -3.0% 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.
