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USDA's Agricultural Marketing Service declined to hold an emergency hearing on a request from more than 20 dairy cooperatives to temporarily raise the Class I base price to $15.68 per cwt for June through August 2020. Dairy economists raised concerns that the proposal could have long-term negative effects.
Without the hearing, the proposed temporary Class I price increase will not move forward, so milk prices stay tied to market conditions. The decision removes a possible short-term floor that cooperatives had sought.
agproud.comDave NatzkeApr 29, 2020After 93 past neutral policy events, MILK moved a median -0.0% over 5 sessions (48% higher; middle half -0.6% to +0.6%), and +0.2% 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.
